Novanta Reveals Plan to Offer 11 Million Tangible Equity Units
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 05 2025
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Public Offering Announcement: Novanta has initiated a public offering of 11 million tangible equity units, totaling $550 million, with each unit priced at $50.00, consisting of a prepaid stock purchase contract and a senior amortizing note due in 2028.
Use of Proceeds: The company plans to utilize the net proceeds to strengthen its balance sheet, fund working capital, potential acquisitions, capital expenditures, share repurchases, and repay approximately $317 million of existing debt.
Listing Information: Novanta's common shares are traded on Nasdaq under the ticker "NOVT," and the company has applied to list the new tangible equity units under the symbol "NOVTU."
Management of Offering: J.P. Morgan and BofA Securities are serving as joint book-running managers for the tangible equity unit offering.
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Analyst Views on NOVT
About NOVT
Novanta Inc. is a supplier of core technology solutions, which offer medical and advanced industrial original equipment manufacturers. Its segment includes Automation Enabling Technologies and Medical Solutions. The Automation Enabling Technologies segment designs, manufactures and markets laser beam delivery components, laser beam delivery solutions, CO2 lasers, solid state lasers, ultrafast lasers, optical and inductive encoders, precision motors, integrated stepper motors, servo drives, motion control solutions, intelligent robotic end-of-arm technology solutions, and air bearing spindles to customers worldwide. The Medical Solutions segment designs, manufactures and markets a range of medical grade technologies, including medical insufflators and endoscopic pumps and related disposables, laser beam delivery solutions, video processing and streaming and capture, machine vision technologies, radio frequency identification (RFID) technologies, thermal chart recorders, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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