Telix Announces A$600 Million Convertible Bonds Offering
Managing Director and Group CEO Dr.
The Convertible Bonds represent attractive, low-cost financing to
The net proceeds, after transaction costs, are intended to provide funding to bring forward proposed investment in order to accelerate key clinical development programs across the Company's theranostic portfolio. This includes label-expansion studies to broaden the market opportunity across
In addition, the funding will provide financial flexibility for
Convertible Bonds Offering
- It is intended that the Convertible Bonds will be listed on the Official List of
Singapore Exchange Securities Trading Limited (SGX-ST) - The Offering is being marketed to eligible investors with the final terms of the Convertible Bonds to be determined via a bookbuild process expected to be completed prior to market open on Wednesday,
24 July 2024 - Concurrent with the Offering, a delta placement of Ordinary Shares will be executed to facilitate hedging activity by investors in relation to the Convertible Bonds. The clearing price per Ordinary Share under the delta placement will be used as the reference share price for the Convertible Bonds
- More details on the key terms of the Convertible Bonds are provided in the table below
The Offering is subject to change and to completion of pricing and settlement.
Adviser
Key terms of the Convertible Bonds
Issuer |
|
Expected Issue Size |
|
Ranking |
Direct, unconditional, unsubordinated and unsecured obligations of the Issuer |
Maturity Date |
On or about |
Investor Put Option |
At the end of year 3 (one time only) |
Coupon / Yield |
2.00 – 2.75% p.a. |
Conversion Premium |
30 – 35% above the Reference Share Price |
Reference Share Price |
The clearing price of the Delta Placement - see below |
Delta Placement |
The Manager will run a bookbuilding process to facilitate some or all of the hedging activity that may be executed by investors in the Convertible Bonds The clearing price of the Delta Placement will be used as the Reference Share Price to determine the Initial Conversion Price of the Convertible Bonds The manner of conducting the Delta Placement will be determined by the Manager in consultation with the Issuer |
Conversion Price Adjustment |
Standard anti-dilutive adjustments including Conversion Price adjustment for all dividends paid by |
Listing |
SGX-ST |
Selling Restrictions |
Reg S (Cat 1) only |
About
Telix Investor Relations
Ms. Kyahn Williamson
SVP Investor Relations and Corporate Communications
Email: kyahn.williamson@telixpharma.com
This announcement has been authorised for release by the Telix Pharmaceuticals Limited Disclosure Committee on behalf of the Board.
Legal Notices
Neither this announcement nor any copy hereof may be released, published or distributed in the United States. The information contained in this announcement is not for release, publication, or distribution, directly or indirectly, in or into
This announcement is for information only and does not constitute or form part of any offer to purchase, a solicitation of an offer to purchase, an offer to sell or an invitation or solicitation of an offer to sell, issue or subscribe for any securities in
The Convertible Bonds and the Ordinary Shares issuable upon conversion of the Convertible Bonds have not been and will not be registered under the Securities Act of 1933, as amended (Securities Act), and may not be offered or sold in
This announcement has not been examined or approved by the
No prospectus, product disclosure document or other disclosure document as that term is defined in the Corporations Act 2001 (Cth) has been or will be lodged with the
This announcement may contain forward-looking statements that relate to anticipated future events, financial performance, plans, strategies or business developments. Forward-looking statements can generally be identified by the use of words such as "may", "expect", "intend", "plan", "estimate", "anticipate", "outlook", "forecast" and "guidance", or other similar words. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Forward-looking statements are based on the Company's good-faith assumptions as to the financial, market, regulatory and other risks and considerations that exist and affect the Company's business and operations in the future, including the Company's ability to complete the Offering in a timely manner, if at all, and the Company's ability to successfully market and price the Convertible Bonds on terms favourable to the Company, and there can be no assurance that any of the assumptions will prove to be correct. In the context of
To the maximum extent permitted by law,
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