Semler Scientific falls after plan to offer $85 mln convertible debt offering
24/01/2025 14:15
** Medical equipment maker Semler Scientific's SMLR.O shares
fall ~11% to $54.60 premarket
** Company announces pricing of $85 mln convertible senior notes
due 2030 in a private offering to institutional buyers
** Initial conversion price of ~$76.44 per share, represents
25% upside to stock's last close
** Company plans on using the proceeds for general corporate
purposes, including acquiring bitcoin
** Semler entered into capped call transactions to offset
potential dilution to its common stock due to the conversion of
notes
** The capped call transactions have a cap price of
~$107.01, represents a 75% upside to stock's last close
** SMLR has ~9.6 mln shares outstanding - LSEG
** Company's shares rose ~22% in 2024
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com))