Navigation Links
NuVasive to Offer $200 Million Convertible Senior Notes Due 2013
Date:3/3/2008

SAN DIEGO, March 3 /PRNewswire-FirstCall/ -- NuVasive, Inc. (Nasdaq: NUVA), a medical device company focused on developing products for minimally disruptive surgical treatments for the spine, announced its intention to offer, subject to market and other conditions, approximately $200 million principal amount of Convertible Senior Notes due 2013 through an offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The notes will be convertible into shares of NuVasive common stock. NuVasive also expects to grant the initial purchasers an option to purchase up to $30 million of additional notes solely to cover over-allotments. The interest rate, conversion price and other terms of the notes will be determined by negotiations between NuVasive and the initial purchasers of the notes.

NuVasive intends to use the net proceeds from the offering for general corporate purposes, including potential strategic acquisitions. NuVasive also intends to enter into convertible note hedge transactions with the initial purchasers or their affiliates (the "counterparties") and intends to use a portion of the net proceeds from this offering to pay for the cost of the convertible note hedge transactions. The convertible note hedge transactions are intended to increase the effective conversion price of the notes, thereby reducing the dilution experienced by the company's stockholders upon potential future conversion of the notes. The company also intends to enter into separate warrant transactions with the counterparties, which would result in additional proceeds to the company, and would partially offset the cost of the convertible note hedge transactions. If the initial purchasers exercise their over-allotment option, the company will enter into additional convertible note hedge and warrant transactions.

In connection with establishing their initial hedge of these transactions, the counterparties and/or their respective affiliates expect to enter into various derivative transactions with respect to the company's common stock and may purchase shares of its common stock concurrently with, or shortly after, the pricing of the notes. These activities could have the effect of increasing, or preventing a decline in, the price of common stock concurrently with or following the pricing of the notes.

In addition, the counterparties and/or their respective affiliates may modify their hedge positions by entering into or unwinding various derivative transactions with respect to the common stock or by selling or purchasing the common stock in secondary market transactions following the pricing of the notes and are likely to do so following any conversion of the notes and during the 84 scheduled trading day period prior to the maturity date, which could adversely affect the price of the common stock and of the notes or could have the effect of increasing or preventing a decline in the price of the common stock.

This announcement is neither an offer to sell nor a solicitation to buy any of the securities described herein and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The notes and the common stock issuable upon conversion of the notes have not been registered under the Securities Act of 1933, as amended, or any state securities laws, and are being offered in the United States only to qualified institutional buyers in reliance on rule 144A under the Securities Act. Unless so registered, the notes and common stock issuable upon conversion of the notes may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws.

NuVasive cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause NuVasive's results to differ materially from historical results or those expressed or implied by such forward-looking statements. There can be no assurance that the transactions contemplated in this announcement will be completed. NuVasive assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made.

Contact:

Kevin C. O'Boyle

EVP & Chief Financial Officer

NuVasive, Inc.

858-909-1800

investorrelations@nuvasive.com


'/>"/>
SOURCE NuVasive, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. NuVasive Announces Preliminary Unaudited Full Year 2007 Financial Results
2. NuVasive to Present at BIOCOM Investor Conference 2007
3. NuVasive Cancels 10/24/07 Investor Reception Due to Concerns Over Southern California Fires
4. NuVasive Licenses Its Insert and Rotate Technology
5. NuVasive Announces Web Cast and Conference Call of Third Quarter 2007 Results
6. NuVasive to Present at ThinkEquity Partners 5th Annual Growth Conference
7. Hillenbrand Industries, Inc. Announces Any and All Cash Tender Offer for Its 4.50 percent Senior Notes Due 2009
8. MultiVu Video Feed: LIFE AND STYLE EXPERT SANDRA LEE OFFERS RECIPES AND SHORTCUTS IN THE KITCHEN TO PEOPLE WITH RHEUMATOID ARTHRITIS
9. Genoptix Announces Pricing of Secondary Public Offering
10. Qiao Xing Mobiles CECT Subsidiary Releases Newest Handset Model; C7000A Offers Cardiograph, 120 Days Ultra-Long Standby and 3.0 LCD Screen
11. California Dental Hygienists Offer Tips for Safe Sippy Cup Use
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/7/2016)... Texas (PRWEB) , ... February 07, 2016 , ... ... new MyDecision™ program. MyDecision™ empowers employers and organizations with the tools and information ... MyDecision™ combines three elements to cut the cost of providing employee healthcare benefits ...
(Date:2/6/2016)... ... February 06, 2016 , ... ... ADVISORY: 5000 PERIOPERATIVE NURSES EXPECTED AT AORN SURGICAL CONFERENCE & EXPO , ... the world with an estimated 5000 perioperative nurses in attendance to study ...
(Date:2/6/2016)... ... ... With the FCPX LUT: Summer pack from Pixel Film Studios, ... is a Lookup Table that contains a mathematical formula for modifying an image. The ... manipulating each pixel, LUT's can change each color range differently, it gives the user ...
(Date:2/6/2016)... , ... February 06, 2016 , ... ... of eating disorder treatment helps to reduce the frequency and level of relapse. ... Recovery Phase: Re-Establishing Healthy Identity and Purpose,” will explore the critical tasks of ...
(Date:2/5/2016)... ... February 05, 2016 , ... Love is in the air ... variety of colors, assortments and packaging. This staple for Valentine’s Day is a must-have, ... , For Valentine’s Day, not only are long-stem roses available, but also other ...
Breaking Medicine News(10 mins):
(Date:2/4/2016)... 4, 2016  Omnicell, Inc. (NASDAQ: OMCL ), a ... healthcare systems, today announced results for its fiscal year ... --> --> GAAP results: Revenue for ... $5.1 million or 4.1% from the third quarter of ... fourth quarter of 2014. Revenue for the year ended ...
(Date:2/4/2016)... 2016  Aethlon Medical, Inc. (Nasdaq: AEMD ... to treat life-threatening diseases, today announced results for ... 31, 2015. --> ... in our last quarterly call, we strategically advanced ... objective to establish the Aethlon Hemopurifier® as a ...
(Date:2/4/2016)... 4, 2016  AMRI (NASDAQ:  AMRI) today announced that ... and President of Pfizer Global Supply, has been elected to ... 2016. In addition, the Company announced that Mr. Gabe ... since 2010, has retired from the AMRI Board of Directors ... other business ventures.  William S. Marth , ...
Breaking Medicine Technology: