The post Semler Scientific Announces $85M Offering Amid Bitcoin Accumulation Plans appeared on BitcoinEthereumNews.com.

Semler Scientific has announced an increase in its convertible senior notes offering to $85 million from the previously planned $75 million. The company also granted initial purchasers the option to buy an additional $15 million in notes. This move aligns with its corporate strategy, which includes further investment in Bitcoin. Semler Scientific Announces $85M Private Offering In a press release, Semler Scientific announced that it had priced its private offering of $85 million aggregate principal amount of 4.25% convertible senior notes due 2030. The offering is made in reliance on the exemption provided by Rule 144A under the Securities Act of 1933, which permits the offer of securities to certain qualified institutional buyers. Subject to the satisfaction of certain conditions, the transaction is anticipated to be completed on January 28, 2025. The notes are not secured, and the interest will be compounded at a rate of 4.25% per annum and will be paid on the first of February and the first of August of every year, starting from August 1, 2025. The conversion rate at the commencement of the offering is 13.0826 shares per $1,000 principal amount, which implies a conversion price of $76.44 per share. This is a 25% premium over the last reported stock price on January 23, as reported at the Nasdaq stock exchange. Semler Scientific can elect to receive the consideration in cash, stock, or a combination of both after the conversion. The notes are not redeemable by the company before August 4, 2028. From this date, redemption is allowed if the common stock of Semler Scientific is trading at not less than 130% of the conversion price for a particular period. If a “fundamental change” occurs, for example, a merger or acquisition, noteholders are entitled to put their notes to the company and compel it…

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Filed under: News - @ January 25, 2025 6:17 am