BUZZ-Guardant Health shares fall after announcing $500 million convertible bond offering plan

November 11 - ** Shares of precision oncology company Guardant Health (GH.O) fell 2.6% in after-hours trading to $150.74 as the company seeks to raise funds

** Palo Alto, California-based GH (link) is privately offering $500 million in convertible bonds (CBs) due May 15, 2032

** The company expects to use the net proceeds from the offering to repurchase part of its 0% convertible bonds due 2027, with the remaining funds to be used for general corporate purposes, including potential acquisitions

** In addition, GH plans to use part of the raised funds to pay for the cost of a "capped call transaction," a deal intended to mitigate potential equity dilution

** GH has a market value of about $21 billion

** On Wednesday, the share closed down 0.4% at $154.78, trimming its year-to-date gain to 51.5%

** According to LSEG data, 26 of 28 analysts rate the stock as "strong buy" or "buy," with 2 rating it "hold"; the median target price is $200

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