Integer Holdings Opens Conversion Window for 2028 Senior Notes
Integer Holdings notified bondholders that its 2.125% Convertible Senior Notes due 2028 may be converted through Dec. 31, 2026.
Integer Holdings Corporation (NYSE: ITGR), a Plano, Texas-based medical device contract manufacturer, announced Thursday that holders of its 2.125% Convertible Senior Notes due 2028 may exercise their conversion option beginning October 1, 2026, through the close of business on December 31, 2026.
Under the terms of the conversion, the company will settle any converted notes in cash up to the principal amount outstanding. For any conversion obligation exceeding that principal amount, Integer retains the discretion to pay in cash, issue shares of common stock, or deliver a combination of both.
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The flexibility afforded to the company over the settlement method above par is a standard feature in convertible note structures, allowing issuers to manage dilution risk while still honoring debt obligations. Integer's decision on how to settle any excess will be governed by the indenture agreement tied to the notes.
Any determination about whether the notes remain convertible in periods beyond December 31, 2026, will be made in accordance with the terms of that governing indenture, the company said. Integer did not disclose the total principal amount outstanding or the conversion price in Thursday's announcement.
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