12/03/2024 | Press release | Distributed by Public on 12/03/2024 05:04
Item 1.01. Entry into a Material Definitive Agreement.
On December 2, 2024, Glaukos Corporation (the "Company") entered into unwind agreements with certain financial institutions (the "Option Counterparties") relating to a portion of the capped call transactions (the "Capped Call Unwind Agreements") that were previously entered into by the Company with such Option Counterparties in connection with the issuance of its 2.75% Convertible Senior Notes due 2027 (the "Notes") in an aggregate principal amount of $287.5 million. The Capped Call Unwind Agreements relate to a portion of capped call transactions corresponding to fifty percent of the number of shares of the Company's common stock initially underlying the Notes. Pursuant to the Capped Call Unwind Agreements, the Option Counterparties will deliver to the Company a cash amount in respect of the capped call transactions being early terminated thereunder, which cash amount will be determined based upon the volume-weighted average price per share of the Company's common stock during an averaging period, commencing on December 3, 2024.
The foregoing description of the Capped Call Unwind Agreements does not purport to be complete and is qualified in its entirety by reference to the full text of the form of Capped Call Unwind Agreements, which is filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.