Artivion Enters Into Separate, Privately Negotiated Exchange Agreements With Certain Holders Of 4.250% Convertible Senior Notes Due 2025

Artivion, Inc. (NYSE:AORT), a leading cardiac and vascular surgery company focused on aortic disease, today announced that it entered into separate, privately negotiated exchange agreements with certain holders of its 4.250% Convertible Senior Notes due 2025 (the "Existing Convertible Notes"). Under the exchange agreements, the company will, subject to customary closing conditions, repurchase approximately $95 million principal amount of Existing Convertible Notes in exchange for a number of shares of the company's common stock to be determined based on the trading price of the common stock over a four trading day averaging period beginning on May 15, 2025 (the "Shares"). Although the number of Shares to be issued is subject to final determination, at yesterday's closing common stock price of $28.91 per share, the transaction would have resulted in the issuance of approximately 4.1 million Shares in total. In addition, pursuant to the exchange agreements, the company will pay cash to the holders for accrued and unpaid interest. These exchange transactions are expected to close on or about May 28, 2025, subject to the satisfaction of customary closing conditions.