News Column

INSULET CORP FILES (8-K) Disclosing Other Events

June 17, 2014



Item 8.01 Other Events.

Between June 9, 2014, and June 12, 2014, Insulet Corporation, a Delaware corporation (the "Company"), used approximately $162.8 million of proceeds from the previously reported sale of its 2.00% Convertible Senior Notes due 2019 to repurchase approximately $114.9 million principal amount of its outstanding 3.75% Convertible Senior Notes due 2016 pursuant to individually negotiated transactions. The amount paid to repurchase these notes includes approximately $2.1 million of accrued interest.

On June 17, 2014, the Company issued a notice of redemption for all of its 3.75% Convertible Senior Notes due 2016 that remain outstanding (approximately $28.8 million principal amount) at a redemption price of 100% of the principal amount thereof, plus accrued and unpaid interest to, but not including, the redemption date of July 28, 2014 (approximately $4.479166 per $1,000 of principal amount). Holders of the notes to be redeemed may surrender them for conversion at any time prior to the close of business on July 24, 2014. In the event of conversion, the Company shall pay to the converting holder a combination of (1) cash of $1,000 per $1,000 of principal amount of notes being converted, and (2) shares of its common stock with respect to the as-converted premium (combination settlement method). The conversion rate will be 38.1749 shares of common stock per $1,000 of principal amount of notes (equivalent to a conversion price of approximately $26.20 per share of Insulet common stock).

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Source: Edgar Glimpses


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