The Company estimates that the net proceeds of the Offering will be $251.2 million (or $289.3 million if the initial purchasers’ over-allotment option is exercised in full), after deducting the initial purchasers’ discounts and commissions and estimated offering expenses. The Company is using approximately $130 million of the net proceeds of the Offering to repay the outstanding term loan under its senior credit facility, $18.7 million to fund the cost of the convertible note hedge transactions described above (after such cost is partially offset by the proceeds to the Company from the sale of the warrant transactions described above), up to $29.1 million to fund any repurchases the Company is able to make of its convertible senior notes due 2014 and the remainder for general corporate purposes, including possible acquisitions.In connection with the convertible note hedge transactions and the separate warrant transactions, the Option Counterparties have advised the Company that they and/or their affiliates expect to enter into various derivative transactions in the Company’s common stock, and may purchase and sell the Company’s common stock in secondary market transactions, concurrently with or shortly after the pricing of the Notes. These hedging activities could initially raise or maintain the market price of the Company’s common stock and could subsequently otherwise affect the market price of the Company’s common stock.
Wright Medical Group, Inc. Prices $260 Million Cash Convertible Senior Notes Offering
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