07:26 AM EST, 11/15/2024 (MT Newswires) -- Alignment Healthcare ( ALHC ) said Friday it has entered into privately negotiated subscription deals with certain investors to issue $330 million of 4.25% convertible senior unsecured notes due Nov. 15, 2029.

The note issuance will likely close Nov. 22, the company said, adding that the initial conversion price will be about $16.04.

Alignment Healthcare ( ALHC ) also said it plans to use the net proceeds of roughly $321.1 million to cut its cost of capital and for general corporate purposes.