Why Herbalife Nutrition Stock Is Diving Today

Why Herbalife Nutrition Stock Is Diving Today

Herbalife Nutrition Ltd HLF shares are trading lower Tuesday after the company announced a proposed convertible senior note offering.

What Happened: Herbalife said it intends to offer $250 million of convertible senior notes due 2028 in a private offering. The company also expects to grant the initial purchasers an option to purchase up to an additional $37.5 million of convertible notes.

The convertible notes will mature on June 15, 2028, unless redeemed, repurchased or converted prior to said date. Herbalife said it expects to use the net proceeds from the offering to repurchase a portion of the company's existing 2.625% convertible senior notes due 2024. 

Herbalife is an international nutrition company that focuses on weight management, targeted nutrition, energy, sports and fitness. 

See Also: S&P 500, Nasdaq Futures Hold On To Slender Gains As Lack Of Major Trading Cues Keep Sentiment Subdued

HLF Price Action: Herbalife has a 52-week high of $45.80 and a 52-week low of $15.33.

The stock was down 11.5% at $15.50 at time of publication, according to Benzinga Pro.

Photo: Silvia from Pixabay.

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