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NanoString to prepay term loan with $89 million of convertibles funds
By Marisa Wong
Los Angeles, March 5 – NanoString Technologies, Inc. said it intends to use about $89 million of proceeds from an offering of convertible notes to prepay in full amounts borrowed under its senior term loan facility.
The term loan will be terminated with the prepayment.
The company announced on Thursday that it priced $200 million of 2.625% convertible senior notes due 2025.
Remaining proceeds from the new notes will be used for general corporate purposes.
NanoString is a Seattle-based biotech company specializing in cancer diagnostic tools.
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