By Dean Seal
Shares of Envista Holdings dropped after the company said it plans to offer $435 million in convertible bonds to institutional buyers.
The stock is down 11% at $30.10 in premarket trading. As of Friday’s close, shares had fallen 18% over the preceding 12 months.
The manufacturer of dental diagnostics equipment and preventative treatments said Monday that it will offer $435 million in aggregate principal amount of convertible senior notes, which are due in 2028, to qualified institutional buyers.
Envista also plans to grant the purchasers an option to buy up to an additional $65.3 million in notes.
Write to Dean Seal at dean.seal@wsj.com
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