Jul. 9 at 2:30 PM
$ADPT here’s the nice part for us. While the conversion price of the recent convertible senior notes issuance was set at
$24.11, they bought capped calls up to
$34.44.
In a nutshell, convertible senior notes get converted to stock if they hit the conversion price. Meaning, you could have an influx of shares, or dilution. But because they also purchased insurance, by way of the capped calls, there shouldn’t be much dilution at all, unless the sp pushes beyond
$34.44.
Hopefully that adds a little color.
