Convertible Senior Notes
In January 2017, the Company completed an underwritten public offering of convertible senior notes due 2022. The notes are unsecured, pay interest semiannually at a rate of 6.25% per annum and are convertible at the option of the holder into shares of the Company’s common stock. The notes will mature in January 2022, unless earlier converted or repurchased in accordance with their terms. The Company does not have the right to redeem the notes prior to maturity, but may be required to repurchase the notes from holders under certain circumstances. As of December 31, the notes had a conversion rate of 61.1851 shares of common stock per $1,000 principal amount of the notes and the dividend threshold amount was approximately $0.394.