Silk Road Medical Inc
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Health Care : Health Care Equipment & Supplies | Small Cap Blend
Company profile

Silk Road Medical, Inc. is a medical device company, which is focused on reducing the risk of stroke and its devastating impact. The Company has discovered an approach for the treatment of carotid artery disease called TransCarotid Artery Revascularization (TCAR), which relies on two concepts: minimally invasive direct carotid access in the neck and high-rate blood flow reversal during the procedure to protect the brain and combines the benefits of innovative endovascular techniques with fundamental surgical principles. The Company's ENROUTE Transcarotid Neuroprotection System (NPS) and ENROUTE Transcarotid Stent System are the products for use in TCAR. Its ENROUTE Transcarotid Stent System is placed during a period of temporary high-rate blood flow reversal, which is enabled by its ENROUTE Transcarotid NPS. It markets and sells its products in the United States through a direct sales organization consisting of approximately 64 sales representatives and 62 clinical support specialists.

Closing Price
$55.57
Day's Change
1.21 (2.23%)
Bid
--
Ask
--
B/A Size
--
Day's High
55.90
Day's Low
54.00
Volume
(Below Average)
Volume:
264,483

10-day average volume:
306,620
264,483

Bed Bath & Beyond to issue common stock to buy back debt

7:50 am ET November 9, 2022 (MarketWatch)
Print

Shares of Bed Bath & Beyond Inc. fell 0.5% in premarket trading Wednesday, after the home goods retailer announced an agreement to issue common stock to buyback debt with a total principal amount of $31.5 million. The company said it will issue 2.8 million shares, which based on Tuesday's stock closing price of $4.00 would be valued at $11.2 million. The company will also receive $3.5 million in cash from the debt holder. The debt being cancelled are $9.5 million principal amount of 4.915% senior notes due 2034 and $22.0 million in 5.165% senior notes due 2044. "Today's announcement outlines a strong framework and compelling opportunity to improve our balance sheet and liquidity by reducing long-term debt, lowering interest expense, and adding an infusion of new capital for equity," said Chief Executive Sue Gove. The former "meme" stock had gained 1.3% on Tuesday to snap a nine-day losing streak, in which it tumbled 25.3% to close Monday at a 2 1/2-year low. The stock has plummeted 59.1% over the past three months through Tuesday, while the S&P 500 has lost 7.1%.

-Tomi Kilgore

	

(END) Dow Jones Newswires

November 09, 2022 07:50 ET (12:50 GMT)

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