MELBOURNE, Australia , July 24, 2024 /PRNewswire/ -- Telix Pharmaceuticals Limited (ASX: TLX) (Telix, the Company, the Issuer) is pleased to announce that it has successfully priced A$650 million 2.375 per cent convertible notes due 2029. The convertible notes, also referred to as "convertible bonds" (Convertible Bonds), are convertible into fully paid ordinary shares in Telix (Ordinary Shares).
The Offering received strong support from eligible investors globally. The initial Conversion Price of the Convertible Bonds is A$24.78 per Ordinary Share, which represents a conversion premium of 32.
5 per cent over the Reference Share Price ( A$18.70 per Ordinary Share), subject to anti-dilution adjustments set out in the final terms and conditions of the Convertible Bonds. The Convertible Bonds will bear interest at a rate of 2.
375 per cent per annum. Interest will be payable quarterly in arrear on 30 October, 30 January, 30 April and 30 July in each year, beginning on 30 October 2024 . The Convertible Bonds will mature on or about 30 July 2029 , unless redeemed, repurchased, or converted in accordance with their terms.
The net proceeds, after transaction costs, are intended to provide funding to bring forward proposed investment in order to accelerate key clinical development programs across the Company's theranostic portfolio. This includes label-expansion studies to expand the market opportunity across Telix's portfolio of diagnostic imaging agents and funding the pivotal trials .