Delisting shakes Veradigm (NASDAQ:MDRX) but no notes called
Veradigm (NASDAQ:MDRX) disclosed that it had received a notice from Nasdaq on February 27, 2024, informing the company of the decision to delist its common stock effective February 29, 2024.
This action led to the suspension of trading of the company's common stock, marking a significant event for Veradigm.
Additionally, the company stated that the delisting constituted a "Fundamental Change" according to the terms of their 0.875% Convertible Senior Notes due 2027, triggering an offer for note holders to request repurchase of their notes on April 5, 2024.
Despite the financial implications of this delisting event, Veradigm reported that no note holders elected to exercise their repurchase rights, leaving all the notes outstanding.
Following these events, the company terminated privately negotiated capped call arrangements related to the notes and received approximately 912,000 shares of common stock in connection with the termination.
As of April 9, 2024, Veradigm had 107,639,978 shares of common stock outstanding.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
