A Medical Device Daily
Wright Medical Group, (Arlington Tennessee), a global orthopedic company, reported that it has filed a registration statement with the Securities and Exchange Commission in connection with a proposed offering of $150 million of Convertible Senior Notes, due 2014.
Wright also has granted the underwriters the right to purchase up to an additional $22.5 million aggregate principal amount of the notes. The interest rate, conversion rate and other terms of the notes will be determined by negotiations between Wright and the underwriters. The registration statement automatically became effective upon filing because the company is a well-known seasoned issuer.
Wright said it intends to use the proceeds from the offering for general corporate purposes, including acquisitions "from time to time."
J.P. Morgan Securities is acting as sole book-running manager of the offering, and Piper Jaffray & Co. is acting as co-manager.