Accelerate Diagnostics, Inc’s $150 Million Convertible Senior Notes Offering

Davis Polk advised the representative of the initial purchasers in connection with a Rule 144A offering by Accelerate Diagnostics, Inc. of $150 million aggregate principal amount of its 2.50% convertible senior notes due 2023.

In addition, Davis Polk advised the forward counterparty to a prepaid forward stock repurchase transaction entered into with Accelerate Diagnostics, Inc. in connection with the convertible notes offering, pursuant to which Accelerate Diagnostics, Inc. agreed to purchase approximately $45 million of its common stock.

J.P. Morgan Securities LLC acted as representative of the initial purchasers.

Accelerate Diagnostics, Inc. is an in vitro diagnostics company dedicated to providing solutions that improve patient outcomes and lower health care costs through the rapid diagnosis of serious infections.

The Davis Polk corporate team included partner Alan F. Denenberg (Picture), counsel Jeffrey Gould and associates Xin (Anita) Guo and Stephanie Y. Cheng. The equity derivatives team included partners Mark M. Mendez and John M. Brandow and associate Joseph Luizzi. The tax team included partner Rachel D. Kleinberg and associate James Manzione. Counsel Michelle Ontiveros Gross provided intellectual property and technology advice.

Involved fees earner: Alan Denenberg – Davis Polk & Wardwell; Jeffrey Gould – Davis Polk & Wardwell; Xin Guo – Davis Polk & Wardwell; Stephanie Cheng – Davis Polk & Wardwell; Mark Mendez – Davis Polk & Wardwell; John Brandow – Davis Polk & Wardwell; Joseph Luizzi – Davis Polk & Wardwell; Rachel Kleinberg – Davis Polk & Wardwell; James Manzione – Davis Polk & Wardwell; Michelle Ontiveros Gross – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: JP Morgan Securities;

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Author: Ambrogio Visconti