Glaukos Corporation (NYSE:GKOS), a medical device company, disclosed today that it has received approximately $53.2 million from unwinding a portion of its capped call transactions.
The transactions were originally entered into in connection with the issuance of its 2.75% Convertible Senior Notes due in 2027.
The unwinding agreements, known as Capped Call Unwind Agreements, were executed with certain financial institutions, referred to as the Option Counterparties. These agreements involve fifty percent of the number of shares of Glaukos's common stock initially underlying the Notes, which had an aggregate principal amount of $287.5 million.
The financial outcome of the unwind was determined based on the volume-weighted average price per share of Glaukos's common stock from Sunday to Tuesday. The company's receipt of the funds follows a previous disclosure on December 3, 2024, regarding the entry into these unwind agreements.
This transaction is part of the company's financial strategies surrounding its convertible senior notes. Glaukos Corporation, headquartered in Aliso Viejo, California, specializes in surgical and medical instruments and apparatus. The company is incorporated in Delaware and is listed on the New York Stock Exchange under the ticker symbol GKOS.
The news above is based on an SEC filing.
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