NeoGenomics Announces Proposed Offering of Convertible Senior Notes

NeoGenomics, Inc. has commenced a private offering of $275 million of convertible senior notes due 2032 to qualified institutional buyers. The company also granted an option to purchase an additional $41.25 million in notes. The notes will be senior, unsecured obligations, maturing in July 2032, with interest payable semi-annually. Conversion will be settled in cash, stock, or a combination thereof. The company may redeem the notes under certain conditions, starting in July 2029. NeoGenomics plans to use a portion of the net proceeds for capped call transactions, to repurchase existing convertible notes, and to repurchase up to $25 million of its common stock. The remaining proceeds will be used for general corporate purposes. The offering is subject to market conditions, and there is no assurance it will be completed.