Envista Holdings Corporation Prices $435.0 Million Convertible Senior Notes Offering
Summary
BREA, Calif., Aug. 7, 2023 /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) ("Envista") today announced the pricing of its offering of $435,000,000 in aggregate principal amount of its 1.75% Convertible Senior Notes due 2028 (the "notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). From and after February 15, 2028, noteholders may convert their notes at any time at their election until the close of business on the second scheduled trading day immediately before the maturity date. Envista expects to use approximately $403.0 million of the net proceeds from the offering to pay the cash portion of the consideration in the concurrent exchange transactions described below. Moreover, market activities by holders of the 2025 Notes that participate in the concurrent exchanges may have impacted the initial conversion price of the notes.In connection with issuing the 2025 Notes, Envista entered into capped call transactions (the "Existing Capped Call Transactions") with certain financial institutions (the "Existing Option Counterparties"). This press release does not constitute an offer to sell, or the solicitation of an offer to buy, the notes or any shares of common stock issuable upon conversion of the notes or issuable pursuant to the concurrent exchange transactions, nor will there be any sale of the notes or any such shares, in any state or other jurisdiction in which such offer, sale or solicitation would be unlawful.Envista is a global family of more than 30 trusted dental brands, including Nobel Biocare, Ormco, DEXIS, and Kerr, united by a shared purpose: to partner with professionals to improve lives.