Summary
DexCom, Inc. (DXCM) filed an 8-K on March 11, 2010, reporting on the unregistered sale of equity securities as of March 10, 2010. The company entered into agreements to exchange a portion of its outstanding 4.75% Convertible Senior Notes due 2027 for shares of its common stock. Specifically, DexCom agreed to issue approximately 1.48 million shares of common stock in exchange for $11.15 million in principal amount of these convertible notes. This transaction represents a debt-for-equity swap, effectively reducing DexCom's outstanding convertible debt by $11.15 million and increasing its common stock by over 1.48 million shares. The exchange was completed without the payment of any commissions or remuneration, and it is being conducted under an exemption from registration pursuant to Section 3(a)(9) of the Securities Act of 1933, indicating that the exchange is between the issuer and its existing security holders.
Key Highlights
- 1DexCom, Inc. completed a debt-for-equity exchange on March 10, 2010.
- 2The company issued 1,480,404 shares of common stock.
- 3The exchange was for $11,150,000 in aggregate principal amount of 4.75% Convertible Senior Notes due 2027.
- 4This transaction reduces the company's outstanding convertible debt.
- 5No commissions or remuneration were paid in connection with the exchange.
- 6The transaction is exempt from registration under Section 3(a)(9) of the Securities Act of 1933.
- 7The filing date of the report is March 11, 2010.