Omnicell $172.5 million convertible senior notes offering
The convertible senior notes are due 2029
Davis Polk advised the representatives of the initial purchasers in a Rule 144A offering by Omnicell, Inc. of $172.5 million aggregate principal amount of 1.00% convertible senior notes due 2029, including $22.5 million principal amount of convertible notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional convertible notes. In addition, Davis Polk advised counterparties to convertible note hedge and warrant transactions in connection with the convertible notes offering, and also advised the existing counterparties to the existing convertible note hedge and warrant transactions entered into in connection with Omnicell’s issuance of its 0.25% convertible senior notes due 2025 with respect to the partial unwind of such existing convertible note hedge and warrant transactions. Omnicell’s common stock is listed on the Nasdaq Global Select Market under the symbol “OMCL.”
Omnicell, Inc. is a leader in transforming the pharmacy care delivery model and committed to solving the critical challenges inherent in medication management and elevating the role of clinicians within healthcare as an essential component of care delivery. Omnicell is focused on helping its customers to define and deliver a cost effective medication management strategy that is designed to equip and empower pharmacists and nurses to focus on patient care rather than administrative tasks, and to drive improved clinical, operational, and financial outcomes across all care settings.
The Davis Polk corporate team included partner Michael Kaplan and associate Xi (Brooke) Zheng. The Davis Polk equity derivatives team included partner Mark M. Mendez and associates Greg Marchesini, Stockton Bullitt, Ji Hwan Kim and Melissa X. Estrada. Partner Aliza Slansky and associates Michael Mirabella and Georgianna Eck provided tax advice. Partner Frank J. Azzopardi and associate Jordan Khorshad provided intellectual property advice. All members of the Davis Polk team are based in the New York office.