On December 16, 2024, LeMaitre Vascular, Inc. (NASDAQ:LMAT) disclosed the pricing of its recently offered $150 million aggregate principal amount of 2.50% Convertible Senior Notes due 2030. The private offering was made to qualified institutional buyers under Rule 144A of the Securities Act of 1933.
The notes, which are senior and unsecured obligations of LeMaitre, will carry an annual interest rate of 2.50%, payable semi-annually in arrears starting August 1, 2025. They are set to mature on February 1, 2030, unless repurchased, redeemed, or converted earlier. The initial conversion rate for the notes is 8.3521 shares of common stock per $1,000 principal amount, reflecting an initial conversion price of around $119.73 per share.
The company intends to utilize the net proceeds, inclusive of potential additional notes purchases, for working capital and general corporate purposes, which may involve acquisitions, investments in complementary companies, product lines, products, or technologies.
These notes were offered exclusively to individuals believed to be qualified institutional buyers under Rule 144A, and neither the notes nor any associated common stock have been registered under the Securities Act or other securities laws. The press release emphasized that the offer and sale of these securities are subject to certain exemptions and cannot be traded unless in compliance with applicable regulations.
LeMaitre is known for providing devices, implants, and services catering to peripheral vascular disease, a condition affecting over 200 million individuals globally. The company’s initiatives, as listed in the Business Development and Investor Relations contact information provided in the press release, aim to address the medical needs of vascular surgeons.
This disclosure is peppered with forward-looking statements regarding the completion of the proposed offering, proceeds utilization, and potential market conditions, subject to a spectrum of known and unknown risks. While these statements reflect LeMaitre’s current projections, uncertainties inherent to the business landscape could impact the actual outcomes significantly. Investors are advised to approach these statements with caution and attentiveness to market fluctuations and company-specific risks.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read LeMaitre Vascular’s 8K filing here.
About LeMaitre Vascular
LeMaitre Vascular, Inc develops, manufactures, and markets medical devices and implants used in the field of vascular surgery worldwide. It offers human cadaver tissue cryopreservation services; angioscope, a fiberoptic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries; thrombectomy catheters for removing thrombi in the venous system; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to perfuse the blood and other fluids into the vasculature.
See Also
- Five stocks we like better than LeMaitre Vascular
- Dividend Capture Strategy: What You Need to Know
- 3 Growth Stocks to Grab for Less Than $100
- What is a Stock Market Index and How Do You Use Them?
- Semtech Stock Climbs as AI Boom Drives Turnaround Success
- What Investors Need to Know to Beat the Market
- 3 Companies Leading the Way With Aggressive Stock Buybacks
