FANCY IPO, BROKE SEMLER SCIENTIFIC
What you need to know:
- Medical-device maker Semler Scientific announced its first-ever convertible note offering and fourth-quarter earnings highlights after the market closed. And guess what? Their shares dropped as much as 15%! 📉
- The company plans to raise a whopping $75 million through the debt sale, with an option for an extra $15 million. Because, why not? 🤷♂️
- A portion of the proceeds (because there’s always a catch) will be used to add to their bitcoin stash. Because, why have money when you can have bitcoin? 🤑
- Revenue rose to $12.5 million from $12.1 million and income from operations to $3.7 million from $3.4 million. Woohoo, exciting finance stuff! 🎉
The analyst who wrote this piece owns shares of Semler Scientific (SMLR). Just another potential conflict of interest in the lovely world of corporate finance. 🙄
Semler Scientific, a medical-device maker (because who doesn’t need another one of those 🤕) tumbled as much as 15% after the close of U.S. trading on Thursday. Because of a thing called a convertible senior note offering. Don’t worry, it’s not as painful as it sounds. (Or is it?) 🤔
In this case, the company wants to sell $75 million of the notes, which includes an option for another $15 million. Just because $75 million isn’t enough, apparently. The proceeds will be used to fund capped-call transactions to offset stock dilution from a potential note conversion. Because who doesn’t love a good financial jargon phrase? 🤣
The notes mature in 2030, with interest paid semiannually. Because who doesn’t love the idea of paying interest on a loan for 12 whole years? 😒 They can be converted into cash, company stock or both. Because options are always a good thing, right? 🤐
As of January 17, Semler Scientific held 2,321 BTC, with an aggregate purchase price of $191.9 million and an average price of $82,689. Because who needs cash when you can have bitcoin, am I right? 🤷♂️
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2025-01-24 12:59