June 5, 2020

Notable News to Focus: Luminex Corporation (NASDAQ:LMNX)

Luminex Corporation (NASDAQ:LMNX) stock observed trading -17.32% off 52-week high price. On the other end, the stock has been noted 91.67% away from low price over the last 52-weeks. The stock disclosed a move of 12.27% away from 50 day moving average and 41.47% away from 200 day moving average. Moving closer, we can see that shares have been trading -2.08% off 20-day moving average. It has market cap of $1.53B and dividend yield of 1.08%.

On May 08, 2020, Luminex Corporation (NASDAQ:LMNX) disclosed the pricing of its offering of $260,000,000 aggregate principal amount of 3.00% Convertible Senior Notes due 2025 (the Convertible Notes) in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the Securities Act). The delivery of the Convertible Notes to investors in book-entry form is expected to be made on May 13, 2020, and is expected to result in approximately $218.3 million in net proceeds to Luminex after deducting estimated placement agent’s fees, the net cost of the bond hedge and warrant transactions discussed below, and estimated offering expenses payable by Luminex.

The Convertible Notes will be general unsecured obligations of Luminex and interest will be paid semiannually in arrears on May 15 and November 15 of each year, beginning on November 15, 2020.  The Convertible Notes will mature on May 15, 2025, unless earlier repurchased, redeemed or converted. Prior to the close of business on the business day immediately preceding November 15, 2024, the Convertible Notes will be convertible at the option of holders only upon the satisfaction of certain conditions and during certain periods.  On or after November 15, 2024 until close of business on the second scheduled trading day preceding maturity, the Convertible Notes will be convertible at the option of the holders at any time regardless of these conditions. Conversions of Convertible Notes will be settled in cash, shares of Luminex’s common stock or a combination thereof, at Luminex’s election.  The Convertible Notes will not be redeemable prior to maturity.

The initial conversion rate is 22.8918 shares of common stock per $1,000 principal amount of Convertible Notes (equivalent to an initial conversion price of approximately $43.68 per share of Luminex’s common stock).  The conversion rate and the corresponding conversion price will be subject to adjustment upon the occurrence of certain events, but will not be adjusted for any accrued and unpaid interest.

The USA based company Luminex Corporation moved with change of -14.38% to $33.24 with the total traded volume of 3667497 shares in recent session versus to an average volume of 586.41K shares. The stock was observed in the 5 days activity at -6.59%. The one month performance of stock was 11.97%. LMNX’s shares are at 41.17% for the quarter and driving a 51.80% return over the course of the past year and is now at 43.54% since this point in 2018.  Right now the stock beta is 0.73. The average volatility for the week and month was at 4.85% and 4.83% respectively. There are 46.12M shares outstanding and 43.17M shares are floated in market.