JWCA aDVISES Cryolife inc ON ITS $100 million convertible BOND ISSUANCE

June 2020 | read press release

Transaction Background

CryoLife was interested in opportunistically raising capital to optimize its balance sheet and fund future M&A opportunities

CryoLife’s objectives:

• Low cost financing to fund future growth opportunities

• Create further flexibility by paying down and reloading its revolving credit facility

JWCA advised CryoLife on deal structuring and related items, including:

• Syndicate structure and precedent data

• Convertible documentation

• Change of control and make-whole mechanics

• Derivative overlay structuring and considerations

• Accounting and tax analysis/implications

• Shareholder messaging and investor targeting

JWCA provided advice, support, and analysis throughout the preparation and execution process

Results

CryoLife was able to successfully execute its convertible offering while pricing within the marketed range

JWCA advised management on the day of the offering, providing execution insight and ensuring a high-quality execution