The company plans to use the funds for general corporate purposes, including, together with cash on hand, to repay borrowings under its term loan facility.
The firm anticipates using the proceeds for working capital and general corporate purposes, and to pay the net cost of convertible-note hedge transactions.
The notes will be sold at an initial effective conversion price of about $38.79 per share, approximately a 30 percent premium to Monday's $29.84 per share closing price.
The company is withdrawing its previous financial guidance for 2020, saying that it cannot predict the extent or duration of the impact of the COVID-19 pandemic.
Thermo Fisher plans to use the proceeds to pay in part for the acquisition of Qiagen, expected to close in the first half of 2021, and for general corporate purposes.
The company intends to use most of the proceeds to pay off debts and associated fees, and the rest to support its platform and consumables development.
The company intends to use most of the proceeds to pay off debts and associated fees, and the rest to support its platform and consumables development.
