Cepheid announced the closing of its offering of $345 million aggregate principal amount of 1.25 percent Convertible Senior Notes due 2021 (the "notes").
According to a release, the offering included $45 million aggregate principal amount of notes issued pursuant to the full exercise of the initial purchasers' over-allotment option. The notes were sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended.
Cepheid noted it estimates that the net proceeds from the offering were approximately $336.4 million, after deducting the initial purchasers' discounts and estimated offering expenses payable by Cepheid. Cepheid has used approximately $25.1 million of the net proceeds to pay the cost of the capped call transactions it entered into with certain financial institutions, including one or more the initial purchasers, in connection with the pricing of the notes offering. Cepheid expects to use the remainder of the net proceeds from the offering of the notes for general corporate purposes, including potential acquisitions and strategic transactions.
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