Semler Scientific Shares Drop on $85M Notes Offering

Dow Jones

Jan 24, 2025

By Chris Wack

Semler Scientific shares were down 11%, to $54.17, after the company priced an offering of $85 million of 4.25% convertible senior notes due 2030 in a private offering.

The offering size was increased from the previously announced offering size of $75 million.

Semler Scientific also granted the initial purchasers of the notes an option to buy an additional $15 million. The sale of the notes is expected to close Tuesday.

The company estimates that the proceeds from the offering will be $81.4 million, or $95.8 million if the initial purchasers exercise their option to purchase additional notes in full, after deducting the initial purchasers' discount and estimated offering expenses payable by Semler Scientific.

Semler Scientific intends to use most of the proceeds from the offering for general corporate purposes, including the acquisition of bitcoin.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

January 24, 2025 10:59 ET (15:59 GMT)

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