Integer Holdings Corporation Announces Convertible Notes Opportunity
Integer Holdings Corporation Announces Conversion Period for Notes
Integer Holdings Corporation (NYSE: ITGR), a prominent medical device contract development and manufacturing organization, has officially announced the conversion period for its 2.125% Convertible Senior Notes due in 2028. This window for conversion begins on April 1, 2025, and will end on June 30, 2025.
Details of the Conversion Option
During this conversion period, holders of the notes will have the option to convert their notes into cash, and additionally, shares of the Company's common stock or a combination of both, depending on the Company's preference regarding the remainder of its conversion obligation beyond the principal amount.
The conversion of these notes was triggered by the recent trading performance of the Company's common stock. Specifically, for at least 20 trading days out of the 30 days leading to March 31, 2025, the stock price exceeded 130% of the established conversion price for each day in question. This determines the conditions under which these notes are allowed to convert, in accordance with the governing Indenture.
Conversion Rate and Pricing
Each $1,000 in principal amount of the notes can be converted at a rate of 11.4681 shares of the Company’s common stock, translating to an approximate conversion price of $87.20 per share. This pricing reflects the current valuation of the stock and provides existing holders an opportunity to shift into equity at a favorable rate during this period.
Investor Communication and Procedures
The Company issued detailed communication to all noteholders concerning the Conversion Option, highlighting the terms, conditions, and procedures for those wishing to convert their notes. Holders can access the notice through The Depository Trust Company or can obtain a copy from Wilmington Trust, National Association, which acts as the designated conversion agent.
For any inquiries, holders can contact:
Wilmington Trust, National Association
1310 Silas Deane Highway
Wethersfield, CT 06109
Attn: Integer Holdings Corporation Notes Administrator
Company Overview
Integer Holdings Corporation is recognized as one of the largest entities in the medical device CDMO sector, providing critical services to the cardiac rhythm management, neuromodulation, alongside cardiac and vascular markets. The Company operates as a vital partner to various medical device manufacturers and original equipment manufacturers (OEMs), dedicating its efforts to improve patient outcomes worldwide with innovative and high-quality medical solutions.
Among the Company's well-known brands are Greatbatch Medical and Lake Region Medical. Integer Holdings is steadfast in its commitment to enhancing the lives of patients through the creation of progressive medical technologies and devices.
Contact Information
If you are an investor or media representative seeking further information, please reach out to:
Investor Relations:
Kristen Stewart
Email: kristen.stewart@integer.net
Phone: 551-337-3973
Media Relations:
Kelly Butler
Email: kelly.butler@integer.net
Phone: 469-731-6617
Frequently Asked Questions
What are the terms for converting the convertible notes?
The conversion period for the notes runs from April 1, 2025, to June 30, 2025, allowing holders to convert into cash and shares.
What triggered the conversion options for the notes?
The last reported share price exceeding 130% of the conversion price for a significant trading period led to the eligibility for conversion.
How many shares can be obtained per note during conversion?
Each $1,000 principal amount of the notes translates to approximately 11.4681 shares of common stock upon conversion.
Where can holders find more information about the conversion process?
Holders can access their notices through The Depository Trust Company or request information from Wilmington Trust, the conversion agent.
Who should I contact for investor relations?
The Investor Relations contact is Kristen Stewart, reachable via email or phone for any inquiries related to the notes.
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