Integer Holdings Corporation Announces Conversion Period for 2.125% Convertible Senior Notes due 2028
October 02 2024 - 4:05PM
Integer Holdings Corporation (NYSE: ITGR) (“Integer” or the
“Company”), a leading medical device contract development and
manufacturing organization, today notified holders of its 2.125%
Convertible Senior Notes due 2028 (the “Notes”) that the Notes are
convertible, at the option of the holders (the “Conversion Option”)
beginning on October 1, 2024, and ending at the close of business
on December 31, 2024. The Notes are convertible into cash, up to
the principal amount of the Notes, and in cash, shares of the
Company’s common stock or a combination thereof, at the Company’s
election, in respect of the remainder, if any, of the Company’s
conversion obligation in excess of the aggregate principal amount
of the Notes being converted. Any determination regarding the
convertibility of the Notes during future periods will be made in
accordance with the terms of the Indenture governing the Notes.
The Notes became convertible because the last reported sale
price of shares of the Company’s common stock, for at least 20
trading days during the period of 30 consecutive trading days
ending on, and including, the last trading day of the calendar
quarter ended September 30, 2024, was greater than 130% of the
conversion price in effect on each applicable trading day.
The Notes are convertible at a conversion rate of 11.4681 shares
of common stock per $1,000 principal amount of Notes, which is
equivalent to a conversion price of approximately $87.20 per share
of common stock.
The Company has issued a notice to holders with respect to the
Conversion Option specifying the applicable terms, conditions and
procedures. The notice is available through The Depository Trust
Company or by requesting a copy from Wilmington Trust, National
Association, which is serving as the conversion agent, at:
Wilmington Trust, National Association1310 Silas Deane Highway
Wethersfield, CT 06109 Attn: Integer Holdings Corporation Notes
Administrator
None of the Company, its Board of Directors or its employees has
made or is making any representation or recommendation to any
holder as to whether to exercise or refrain from exercising the
Conversion Option.
This press release is not an offer to sell, nor a solicitation
of an offer to buy securities, nor shall there be any sale of these
securities in any state or jurisdiction in which the offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction.
About
Integer®
Integer Holdings Corporation (NYSE: ITGR) is one of the
largest medical device contract development and manufacturing
organizations (CDMO) in the world, serving the cardiac rhythm
management, neuromodulation, and cardio and vascular markets. As a
strategic partner of choice to medical device companies and OEMs,
the Company is committed to enhancing the lives of patients
worldwide by providing innovative, high-quality products and
solutions. The Company's brands include Greatbatch
Medical®, Lake Region Medical®
and Electrochem®. Additional information is
available at www.integer.net.
Investor Relations: |
Media Relations: |
Andrew Senn |
Kelly Butler |
andrew.senn@integer.net |
kelly.butler@integer.net |
763.951.8312 |
469.731.6617 |
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