Heart device maker HeartWare International Inc. said Wednesday it completed a public offering of nearly $143.8 million in convertible senior notes due in 2017, and a shareholder sold 1 million shares of common stock.
The Framingham, Mass., company said the offering of notes includes $18.75 million sold as part of an underwriters' option to purchase additional amounts to cover excess demand. The notes come with an annual interest rate of 3.5 percent and mature Dec. 15, 2017.
HeartWare plans to use proceeds for research and development and an expansion of its manufacturing capabilities, among other things.
The company also said Apple Tree Partners I LP completed a concurrent offering of 1 million shares of HeartWare stock at a price of $81.31 per share. HeartWare receives no proceeds from that offering.
J.P. Morgan Securities LLC acted as sole book-running manager for both the convertible notes and common stock offerings.
HeartWare shares fell 54 cents to $85.23 in Wednesday afternoon trading.