08:20 AM EST, 11/07/2025 (MT Newswires) -- Novanta ( NOVT ) said Friday that it has priced 11 million 6.50% tangible equity units at $50 apiece in a public offering for $533 million in net proceeds.

Underwriters have a 30-day option to buy up to 1.65 million additional units, and the offering is expected to close Wednesday, the company said.

The units are expected to list on Nasdaq under "NOVTU," while Novanta's ( NOVT ) common shares continue to trade as "NOVT," the company said.

Each unit includes a prepaid stock purchase contract and a senior amortizing note due 2028 with quarterly installments equal to 6.5% per $50 unit, Novanta ( NOVT ) said.

The company also said an initial $317 million of the net proceeds is slated to repay revolver borrowings.