Convertibles Calendar: Merit Medical, Sphere, Evolent Health on deck

Dec. 5

EVOLENT HEALTH INC.

• $350 million six-year convertible notes

• Coupon of 3.25% to 3.75% and initial conversion premium of 37.5% to 42.5%

• Non-callable for three years and then subject to a 130% handle

• Rule 144A

• Goldman Sachs & Co. LLC and Oppenheimer & Co. Inc.

• Proceeds to prepay outstanding borrowings under term loan due January 2029

• Arlington, Va.-based company that partners with health care payers and providers to reduce the cost of care

MERIT MEDICAL SYSTEMS INC.

• $550 million five-year convertible notes

• Coupon of 3.5% to 4% and initial conversion premium of 27.5% to 32.5%

• Non-callable for three years

• Rule 144A

• J.P. Morgan Securities LLC (lead left), Piper Sandler Co. and Wells Fargo Securities LLC

• Proceeds to cover the cost of the call spread and for general corporate purposes

• South Jordan, Utah-based medical device manufacturer

SPHERE ENTERTAINMENT CO.

• $225 million five-year convertible notes

• Coupon of 3.25% to 3.75% and initial conversion premium to 25% to 30%

• Rule 144A

• BofA Securities Inc. and J.P. Morgan Securities LLC

• Proceeds to cover the cost of the call spread and for general corporate purposes

• New York-based live entertainment and media company

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