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Invitae conducts private $17.21 million convertible exchange
Chicago, Aug. 23 – Invitae Corp. worked with holders of another $17,211,000 of its 2% convertible senior notes due 2024 on a private exchange, according to an 8-K filing with the Securities and Exchange Commission.
The company did a similar, but more sizable, private exchange of the same notes that settled in March.
Holders are exchanging the existing convertibles due 2024 for $100,000 of new 4.5% series A convertible senior secured notes due 2028 and 15,819,604 shares of common stock.
In the March exchange, the company issued $275,257,000 of 4.5% series A notes due 2028 and $30 million of 4.5% series B notes due 2028.
The $100,000 of new notes in this exchange will be issued under the March indenture.
Settlement on the current exchange was planned for Wednesday.
Invitae is a San Francisco-based medical genetics company.
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