aibioCorMedix completes $150,000,000 convertible senior notes offering due 2030
Tickers CRMD
The 4.00% notes were sold in a private placement. The initial conversion rate is 74.2515 shares of common stock per $1,000 principal amount.
Key facts
- Company
- CorMedix Inc. (NASDAQ: CRMD)
- News type
- Debt Financing
- Primary source
- CorMedix Inc. 8-K (2025-08-12)
CorMedix Inc. completed its previously announced private placement of $150,000,000 aggregate principal amount of convertible senior notes due 2030 on August 12, 2025. The company disclosed the closing in a Form 8-K filed that day. Convertible notes are debt that holders can swap for company stock under set terms.
The exhibit index describes the notes as 4.00% Convertible Senior Notes due 2030. CorMedix entered into an indenture dated August 12, 2025 with U.S. Bank Trust Company, National Association, as trustee. The indenture governs the notes.
The initial conversion rate was set at closing and equals 74.2515 shares of common stock per $1,000 principal amount of notes. The filing points to an earlier Form 8-K dated August 7, 2025 for further terms of the notes.
The notes were sold in reliance on the exemption under Section 4(a)(2) of the Securities Act of 1933, which covers offers that are not public offerings. CorMedix said the notes, and the shares of common stock issuable on conversion, have not been registered under the Securities Act or any state securities laws. They may not be offered or sold in the United States without registration or an applicable exemption. The sale was made without general solicitation or general advertising.