Impinj, Inc. announced a proposed private offering of $150 million of Convertible Senior Notes due 2029.
The offering is subject to market conditions and other factors.
The notes will be convertible into cash, shares of Impinj's common stock, or a combination thereof.
Proposed Offering
$150 million aggregate principal amount of Convertible Senior Notes due 2029.
Usage of Proceeds
Net proceeds intended for an exchange of a portion of outstanding 1.125% Convertible Senior Notes due 2027 and general corporate purposes.
Capped Call Transactions
Expected to reduce potential dilution to Impinj's common stock upon note conversion.
- The offering aims to strengthen Impinj's financial position.
- Potential increase in market activity surrounding Impinj's common stock due to hedging strategies.
- Capped call transactions will mitigate risks associated with note conversion.
Impinj's move to offer Convertible Senior Notes reflects strategic financial planning and capital restructuring to support future growth.