K2M Group Holdings, Inc. Announces Private Offering of $65.0 Million Aggregate Principal Amount of Convertible Senior Notes due 2025

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LEESBURG, Va., June 13, 2018 (GLOBE NEWSWIRE) -- K2M Group Holdings, Inc. (Nasdaq:KTWO) (“K2M”) today announced that it intends to offer, subject to market and other conditions, $65.0 million aggregate principal amount of Convertible Senior Notes due 2025 (the “Notes”), to be sold only to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). K2M also expects to grant to the initial purchasers of the Notes an option to purchase up to an additional $10.0 million aggregate principal amount of the Notes during a 13-day period beginning on, and including, the first date on which the Notes are issued.

The Notes will be K2M’s senior unsecured obligations. The Notes will mature on June 30, 2025, unless earlier converted, redeemed or repurchased.

K2M will satisfy its conversion obligation by paying or delivering, at its election, cash, shares of its common stock or a combination of cash and shares of its common stock, as applicable. The maturity date, interest rate, the initial conversion rate and the other terms of Notes will be determined by negotiations between K2M and the initial purchasers of the Notes.

K2M expects to use the net proceeds of this offering to repay approximately $18.0 million of borrowings under our revolving credit facility and the remaining net proceeds for general corporate purposes, which may include working capital, purchasing inventory, continued expansion of our distribution channels and supporting our organic growth initiatives.

The offer and sale of the Notes and any shares of K2M’s common stock issuable upon conversion of the Notes have not been registered under the Securities Act, or any state securities law, and the Notes and such shares may not be offered or sold in the United States or to any U.S. persons absent registration under, or pursuant to an exemption from, or in a transaction not subject to, the Securities Act and applicable state securities laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy the Notes or any shares of K2M’s common stock issuable upon conversion of the Notes, nor shall there be any offer, solicitation or sale of any Notes or any shares of K2M’s common stock issuable upon conversion of the Notes in any jurisdiction in which such offer, solicitation or sale would be unlawful.

K2M Group Holdings, Inc. is a global leader of complex spine and minimally invasive solutions focused on achieving three-dimensional Total Body Balance. Since its inception, K2M has designed, developed, and commercialized innovative and proprietary complex spine and minimally invasive spine technologies and techniques used by spine surgeons to treat some of the most complicated spinal pathologies.

CONTACT: Investor Contact:
Westwicke Partners on behalf of K2M Group Holdings, Inc.
Mike Piccinino, CFA

More news and information about K2M Group Holdings, Inc.

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Globe Newswire: 21:04 GMT Wednesday 13th June 2018

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