Guardant Health prices $500 million 0% convertible notes due 2032
Guardant Health announced pricing of a $500 million senior convertible note offering that carries a 0% interest rate and matures on May 15, 2032. The company also granted purchasers an option to buy up to an additional $50 million of notes. Net proceeds are expected to be about $489.3 million, with $395.2 million earmarked to repurchase its 2027 convertible notes. The pricing triggered a 2.5% rise in the stock in pre‑market trading.
Why it matters
According to the company, the proceeds will be used to retire $395.2 million of 2027 debt, extending its debt maturity profile and reducing near‑term refinancing risk. The market reaction lifted Guardant Health’s share price by 2.5% in pre‑market trading.
Key facts
- 1Guardant Health priced a $500.0 million aggregate principal amount of convertible senior notes due 2032. finance.yahoo.com
- 2Initial purchasers have an option to purchase up to an additional $50.0 million of notes. finance.yahoo.com
- 3The notes mature on May 15, 2032. finance.yahoo.com
- 4The notes carry a 0% interest rate. tradingview.com
- 5Net proceeds are estimated at approximately $489.3 million. investing.com
- 6$395.2 million of the proceeds are earmarked for repurchasing existing 2027 convertible notes. tradingview.com
Summary written by AlphAI AI Desk from 9 of 9 sources. Not investment advice. Figures are as stated by the linked sources.