Merit Medical falls on planned $550 mln convertible debt deal

Merit Medical Systems

05/12/2023 14:55

** Shares of Merit Medical Systems  MMSI.O  down 9.3% at
$67.10, a 5-week low, early Tues as co plans capital raise
    ** MMSI on course for biggest one-day pct fall since Jul 26
    ** Medical device maker late Mon said offering privately
$550 mln 6-yr convertible bonds
    ** Co plans to use net proceeds for general corp purposes,
including debt paydown, among other uses
    ** Co has ~$3.9 bln market cap, per LSEG data
    ** With move on the session, shares down 5% YTD and off >20%
from record high hit in early Jun

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))