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NantHealth plans $100M convertible notes private placement

NantHealth Inc. plans to offer $100 million of convertible senior notes due 2021 in a private placement to qualified institutional buyers.

The company also plans to grant the initial purchasers an option to buy up to an additional $15 million of the notes.

In addition, entities affiliated with NantHealth Chairman and CEO Patrick Soon-Shiong have indicated interest in buying up to $20 million of the notes in a separate concurrent private placement.

The notes will be unsecured, senior obligations of NantHealth and interest will be payable semiannually in arrears. The notes will be convertible into cash, common shares of the company or a combination of both, at NantHealth's election.

NantHealth expects to use the net proceeds from this offering for general corporate purposes, which may include commercializing new solutions and product extensions and potentially pursuing targeted acquisitions.