Semler Scientific, Inc. (SMLR), a medical technology company, Friday said it has priced its private offering of $85 million, 4.25% convertible senior notes due 2030. The company's shares were more than 7 percent down in pre-market.
The notes offering was upsized from the previous $75 million. Semler Scientific also granted the initial purchasers an option to purchase, up to an additional $15 million of notes.
Net proceeds from the offering will be about $81.4 million, or $95.8 million if the initial purchasers exercise their option to purchase additional notes in full. The company plans to use about $6.6 million from this proceeds to pay the cost of the capped call transactions it has entered into in connection with the pricing of notes. Remaining proceeds will be used for general corporate purposes, including the acquisition of bitcoin.
The initial conversion rate of the notes will be 13.0826 shares per $1,000 of notes, which is equivalent to an initial conversion price of about $76.44 per share. The initial conversion price of the notes represents a premium of approximately 25 percent over Semler Scientific's share price on January 23.
The sale of the notes is expected to close on January 28, 2025.
Semler Scientific stock had closed at $61.15, down 1.55 percent. It has traded in the range of $20.88 - $81.56 in the last 1 year.
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.