Fenwick & West represented the initial purchasers in Impinj’s offering of $75 million of 2.00% convertible senior notes due 2026. Impinj also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $11.25 million aggregate principal amount of the notes. Additionally, Impinj entered into privately negotiated capped call transactions.
Impinj wirelessly connects billions of everyday items such as apparel, medical supplies, automobile parts, luggage and food to consumer and business applications such as inventory management, patient safety, asset tracking and item authentication. The Impinj platform uses RAIN RFID to deliver timely information about these items to the digital world, thereby enabling the Internet of Things. More information about the offering can be obtained from Impinj’s announcement.
The Fenwick transaction team included corporate partners David Michaels and Ran Ben-Tzur, associates Julia Forbess, Jennifer Hitchcock and Daisy Chen, and law clerk Elijah Porter; and tax partner William Skinner.