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Teladoc's stock falls after announcing plans for $800 million convertible debt offeri
Teladoc's stock falls after announcing plans for $800 million convertible debt offering
Shares of Teladoc Health Inc. slumped 5.6% in morning trading Thursday, after the telehealth services company announced plans for an offering of $800 million in convertible senior unsecured notes due 2027. The company said it plans to use part of the proceeds to enter into negotiated agreements for certain holders of its 3.00% convertible senior note due 2022 to exchange those notes for a combination of cash and common stock. The offering is being made to qualified institutional buyers. Teladoc's stock has more than doubled (up 112%) year to date as shelter-at-home orders amid the COVID-19 pandemic has led to increased use of telemedicine services. In comparison, the SPDR Health Care Select Sector ETF has slipped 3.9% this year and the S&P 500 has lost 13.9%.
https://finance.yahoo.com/m/6f1b56f...7104/teladoc's-stock-falls.html?.tsrc=rss
Teladoc's stock falls after announcing plans for $800 million convertible debt offering
Shares of Teladoc Health Inc. slumped 5.6% in morning trading Thursday, after the telehealth services company announced plans for an offering of $800 million in convertible senior unsecured notes due 2027. The company said it plans to use part of the proceeds to enter into negotiated agreements for certain holders of its 3.00% convertible senior note due 2022 to exchange those notes for a combination of cash and common stock. The offering is being made to qualified institutional buyers. Teladoc's stock has more than doubled (up 112%) year to date as shelter-at-home orders amid the COVID-19 pandemic has led to increased use of telemedicine services. In comparison, the SPDR Health Care Select Sector ETF has slipped 3.9% this year and the S&P 500 has lost 13.9%.
https://finance.yahoo.com/m/6f1b56f...7104/teladoc's-stock-falls.html?.tsrc=rss
