Vocera Communications, Inc. (NYSE: VCRA) – Vocera Raises $ 200 Million By way of Convertible Senior Notes For Debt Financing


  • Vocera Communications Inc (NYSE: VCRA) priced at $ 200 million of 0.50% senior convertible notes due 2026 to boost $ 193.9 million in institutional placement.
  • Vocera additionally granted the preliminary consumers of the tickets an choice to buy extra tickets as much as $ 30 million.
  • Vocera intends to make use of a part of the proceeds of the providing to pay for the price of capped name transactions. It plans to make use of $ 103.4 million of the proceeds of the providing in addition to 1.3 million shares to repurchase $ 102.9 million 1.50% senior convertible notes due 2023. Vocera intends to make use of the rest of the proceeds of the providing for working capital and different basic company functions, together with financing R&D, working capital, acquisitions or investments in firms. complementary companies, merchandise or applied sciences and capital expenditures.
  • Morgan Stanley, Piper Sandler and William Blair & Firm are the primary consumers of the tickets.
  • Vocera has entered into capped buy transactions with sure monetary establishments to offset the potential dilution of shares ensuing from any conversion of notes. The preliminary cap value for the capped buy transactions is $ 77.96, which is a 75% premium over the closing value of $ 44.55 on March 9, 2021.
  • The Notes can be senior unsecured obligations of Vocera with semi-annual curiosity of 0.5% every year and can mature on September 15, 2026.
  • The Notes can be redeemable after March 20, 2024, however provided that the final reported sale value per share of Vocera’s share exceeds 130% of the conversion value for a specified interval.
  • The Notes can have an preliminary conversion price of 16.6 Vocera shares per $ 1,000 in principal quantity of the Notes equal to an preliminary conversion value of $ 60.14 per share, or a premium of 35% over the market value. time limit of March 9, 2021.
  • Vocera’s senior convertible notes amounted to $ 124.4 million as at December 31, 2020.
  • VCRA inventory has gained 61% previously six months.
  • Value motion: VCRA shares are 1.93% decrease at $ 43.69 on the final verify on Wednesday.


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