Boston Scientific (NYSE: BSX) shares are trading lower on Thursday.
The company announced it has commenced concurrent offerings of $750 million shares of its common stock and $750 million of shares of its Series A Mandatory Convertible Preferred Stock.
Boston Scientific produces less-invasive medical devices that are inserted into the human body through small openings or cuts. It manufactures products for use in angioplasty, blood clot filtration, cardiac rhythm management, catheter-directed ultrasound imaging, structural heart disease, upper gastrointestinal tract tests, interventional oncology, and treatment of incontinence.
Boston Scientific shares were trading down 5.9% to $34.98 at time of publication on Thursday. The stock has a 52-week high of $46.62 and a 52-week low of $24.10.