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Xometry talks $250 million five-year convertibles to yield 0.5%-1%, up 27.5%-32.5%
By Abigail W. Adams
Portland, Me., Jan. 31 – Xometry Inc. plans to price $250 million of five-year convertible notes after the market close on Tuesday with price talk for a coupon of 0.5% to 1% and an initial conversion premium of 27.5% to 32.5%, according to a market source.
Goldman Sachs & Co. LLC (lead left), J.P. Morgan Securities LLC and BofA Securities Inc. are bookrunners for the Rule 144A offering, which carries a greenshoe of $37.5 million.
The notes are non-callable for three years and then subject to a 130% hurdle.
There is dividend and takeover protection.
The notes will be settled in cash, shares or a combination of both at the company’s option.
Proceeds will be used for general corporate purposes, which may include future acquisitions or strategic investments.
Xometry is a Rockville, Md.-based industrial parts marketplace.
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