The Capital Markets team advised the initial purchasers on Enovis Corporation’s Rule 144A offering of 3.875% Convertible Senior Notes due 2028. The initial conversion price of the notes represents a premium of approximately 30% to the last reported sale price of Enovis’ common stock on the pricing date (the “reference price”). In connection with the offering, Enovis and certain investment bank dealers entered into capped call transactions, which mitigate equity dilution and/or offset payments due upon conversion of the notes, to synthetically increase the conversion price to 100% above the reference price.
Enovis Corporation (NYSE: ENOV) is an innovation-driven medical technology growth company dedicated to developing clinically differentiated solutions that generate measurably better patient outcomes and transform workflows.
Goodwin’s product team consisted of Jim Barri, John Servidio, Kim de Glossop, Sne Sadhu, and Patrick Wilson. The corporate and securities team consisted of Ben Marsh, David Li, Della Fok and Haylee Brown. The regulatory and specialist teams consisted of Elizabeth Mulkey and Steven Tjoe (FDA); Justin Pierce (Global Trade); Matt Wetzel, Ilene Albala and Heath Ingram (Healthcare); Olivia Uitto (IP); Jackie Klosek (Privacy); and Dan Karelitz and Nicole Brock (Tax).
For more information, please see the Enovis pricing press release for the offering.