The San Diego-based continuous glucose monitoring systems company also plans to offer note purchasers a 13-day option to buy up to an additional $150 million aggregate principal amount of notes.
Dexcom plans to use $600 million of the proceeds from the offering to repurchase $260 million in previous notes and to repurchase stock. The rest of the money will go toward capital expenditures, working capital and general corporate purposes — and potential acquisitions or investments in other businesses and technologies. Additional note or share repurchases are also a possibility.
When it comes to potential acquisitions, investments or additional repurchases, Dexcom said it has no commitments or specific plans.
Dexcom last month reported first-quarter results that beat The Street, but it dropped its financial guidance for the year amid the uncertainty surrounding the COVID-19 pandemic.