OSI Systems, Inc. (OSIS), a manufacturer of electronic components, announced on Tuesday its plan for a private offering of $275 million in convertible senior notes, set to mature in 2029.
The company also expects to provide the initial purchasers with the option to acquire an additional $41.25 million in notes.
OSI intends to allocate up to approximately $100 million of the net proceeds from the offering to repurchase its shares through privately negotiated transactions.
The remaining proceeds are planned to be used for repaying a portion of existing debt, covering related fees and expenses, and other general corporate purposes.
