Quarterly report pursuant to Section 13 or 15(d)

Convertible Senior Notes

Convertible Senior Notes
3 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Convertible Senior Notes Convertible Senior Notes
In January 2017, the Company closed an underwritten public offering of $287.5 million aggregate principal amount of convertible senior notes due 2022. The net proceeds from the offering were approximately $282.2 million after deducting underwriting discounts and estimated offering expenses payable by the Company. 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 both March 31, 2020 and December 31, 2019, the notes had a conversion rate of 63.1793 shares of common stock per $1,000 principal amount of the notes, respectively. The outstanding amount due on the convertible senior notes as of March 31, 2020 and December 31, 2019 was $285.2 million and $285.0 million, respectively, net of deferred issuance costs.