Indivior Pharmaceuticals, Inc. (INDV) shares fell 4.74 percent to $31.27, down $1.56 on Thursday, after the company announced plans to offer $400 million in convertible senior notes due 2031.
The stock is currently trading at $31.27 compared with its previous close of $32.83. Shares opened at $29.89 and traded between $29.42 and $30.72 during the session on the Nasdaq. Trading volume reached about 315,676 shares, below the average volume of about 2.32 million shares.
Indivior said the notes will be senior unsecured obligations and will mature on March 15, 2031. The company expects to use about $239 million of the proceeds, along with $102 million in cash, to repay borrowings and terminate its existing credit facility. Up to $75 million of the proceeds may also be used to repurchase shares from certain investors.
The stock has traded in a 52-week range of $8.64 to $38.00.
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