Zynex sinks on planned CEO stock sale, convertible debt offering
03/05/2023 22:02
** Zynex Inc's ZYXI.O shares down ~23% in extended trading
after medical device maker announces secondary and convertible
debt offerings
** Co commences 2 mln share offering by CEO Thomas Sandgaard
with RBC as sole bookrunner
** In addition, co offering privately $50 mln 3-yr
convertible bonds
** ZYXI closed up 1.5% at $14.56 on Weds
** Co has ~36.66 mln shares outstanding for roughly $534 mln
market cap, per Refinitiv
** Shares have gained 30% over the past week. Late last
Thurs, co said Q1 rev increased 36% yr/yr to $42.2 mln and
posted adj EPS of 4 cents
(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))