Fenwick represented Shockwave Medical, Inc. (Nasdaq: SWAV), a leader in the development and commercialization of innovative products that are transforming the treatment of cardiovascular disease, in its $750 million offering of 1.00% convertible senior notes due 2028 in a private placement to qualified institutional buyers pursuant to Rule 144A. The gross proceeds include the full exercise of the $100 million option to purchase additional notes granted by Shockwave Medical to the initial purchaser. The aggregate principal amount of the offering was increased from $500 million due to market interest.
Shockwave estimates that the net proceeds from the offering will be $730.4 million. Shockwave intends to use the proceeds from the offering for general corporate purposes and to pay the cost of certain capped call transactions. More information can be obtained from Shockwave Medical’s announcement.
The Fenwick transaction team included corporate partners Doug Cogen, David Michaels, Ran Ben-Tzur and Jen Hitchcock and associates Joshua Damm, Annie Omata, Beth Clarke, Leeza Soulina, Claire Chung, Frances Fuqua and Warren Pugash; and tax partner William Skinner and associate Jenna Grove.