Understanding the Conversion Opportunity for Integer Holdings
Integer Holdings Corporation (NYSE: ITGR), a prominent player in the medical device sector, has recently informed its stakeholders about an important development concerning its 2.125% Convertible Senior Notes maturing in 2028. This significant announcement opens up a conversion option for holders of these notes, facilitating a strategic investment choice starting from January 1, 2025.
Conversion Period Details
The conversion window for the 2.125% Convertible Senior Notes will be available from January 1, 2025, until March 31, 2025. During this period, noteholders can opt to convert their notes into cash equivalent to the principal amount or receive a combination of cash and shares of the Company's common stock. The exact distribution will depend on Integer's decision regarding its conversion obligations beyond the principal amount being converted.
Conditions for Conversion
Holders can take advantage of the conversion option because the share price of Integer's common stock has, over a specified timeframe, exceeded 130% of the conversion price set for each trading day. This price increase indicates strong performance, affirming Integer's stability and growth potential following its strategic decisions.
Conversion Rate Information
The conversion rate established for these notes is 11.4681 shares of common stock per each $1,000 principal amount held. Therefore, the conversion price stands at approximately $87.20 per share, creating an attractive proposition for investors looking to capitalize on Integer's market position.
Communication to Noteholders
Integer has dispatched a formal notice to all noteholders detailing the terms and procedures for exercising the Conversion Option. This communication is crucial for ensuring that all holders are well informed and can make knowledgeable decisions regarding their investments.
Contact for Additional Information
For further inquiries or detailed guidance, stakeholders have the option to reach out to Wilmington Trust, National Association, which serves as the conversion agent. They can be contacted at:
Wilmington Trust, National Association
1310 Silas Deane Highway
Wethersfield, CT 06109
Attn: Integer Holdings Corporation Notes Administrator
About Integer Holdings Corporation
Integer Holdings Corporation (NYSE: ITGR) stands as one of the largest organizations dedicated to medical device contract development and manufacturing globally. The company provides comprehensive services across prominent markets such as cardiac rhythm management, neuromodulation, and cardiovascular sectors. Integer aims to enhance patient outcomes by delivering innovative and high-quality medical solutions. Through its reputable brands, including Greatbatch Medical and Lake Region Medical, Integer remains a strategic partner for medical device companies and OEMs.
Frequently Asked Questions
What are the dates for the conversion period?
The conversion period for the 2.125% Convertible Senior Notes is from January 1, 2025, to March 31, 2025.
What is the conversion rate for the notes?
The conversion rate is 11.4681 shares of common stock per $1,000 principal amount of notes.
Who can I contact for more information about the conversion?
Holders can contact Wilmington Trust, National Association, for additional information regarding the conversion.
What is the conversion price?
The conversion price is approximately $87.20 per share of common stock.
Is this announcement a recommendation to convert?
No representation or recommendation is made by the Company or its Board regarding whether to exercise the Conversion Option.
