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Opko Health Strikes Deal to Convert $55.4 Million of Notes Into Shares

05/07/2021 10:51

02:37 PM EDT, 05/07/2021 (MT Newswires) -- Opko Health (OPK) said Friday it has struck a deal with some noteholders to exchange $55.4 million of their 4.50% convertible senior notes due 2025 for the company's shares.

The number of shares to be issued will be determined based on a volume-weighted average price per share, subject to a floor price of $3.50 per share, during a four-trading-day averaging period, commencing Friday, the company said.

The stock was down 4.6% in afternoon trading.

Price: 3.82, Change: -0.18, Percent Change: -4.50