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Wright Medical settles $139.56 million exchange convertibles due 2023
By Marisa Wong
Morgantown, W.Va., Feb. 8 – Wright Medical Group NV’s wholly owned subsidiary, Wright Medical Group, Inc., issued $139,556,000 of additional 1.625% cash convertible senior notes due 2023 on Thursday, according to an 8-K filing with the Securities and Exchange Commission.
The additional notes were delivered upon settlement of previously announced privately negotiated exchange agreements. Wright had offered to exchange existing 2% cash convertible senior notes due 2020 for new 2023 notes.
Holders exchanged a total of $130,134,000 of the existing 2020 notes for the additional 2023 notes.
The company had previously announced that it would exchange $112,106,000 of the 2020 notes for $120,223,000 of 2023 notes, as reported.
Following the exchange, the total principal amount of the 2023 notes is $814,556,000, which includes the original $675 million issued in June 2018, and the total amount of 2020 notes outstanding is $56.5 million, according to the 8-K filing.
Wright Medical Group is an Amsterdam-based global medical device company.
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