TELEFLEX INC

Teleflex Incorporated has issued $500 million in 5.875% senior notes due January 2032. These notes are general unsecured senior obligations, ranking equally with existing senior debt but effectively subordinated to secured debt. The company has optional redemption rights, including a make-whole call option and a 40% redemption option using equity offering proceeds. The indenture includes standard covenants and provisions for a change of control triggering event, requiring a repurchase offer at 101% of the principal amount.

Teleflex Incorporated's Board of Directors approved a special restricted stock unit award with a grant date fair value of $600,000 to Stuart A. Randle, the Interim President and Chief Executive Officer. This award recognizes his significant contributions in operational, governance, and investor relations matters, as well as his role in the search for a permanent CEO. It also acknowledges that Mr. Randle served in the interim role for a longer period than initially expected. The award, granted on June 8, 2026, will vest on the earlier of June 8, 2027, or the date of the Company's 2027 annual meeting of stockholders.

Teleflex Incorporated announced the pricing of its private offering of $500.0 million aggregate principal amount of 5.875% Senior Notes due 2032. The company intends to use the net proceeds from this offering, combined with cash on hand, to redeem all of its outstanding 4.625% Senior Notes due 2027. The offering is anticipated to close around June 15, 2026, pending customary closing conditions.

Teleflex Incorporated and its subsidiaries entered into a new Credit Agreement on May 26, 2026, refinancing its existing credit facilities. The new agreement provides for a total of $2.2 billion in financing, comprising a $1.0 billion five-year revolving credit facility, a $500 million Term A-1 loan, and a $700 million Term A-2 loan. The obligations are guaranteed by material domestic subsidiaries and secured by substantially all company assets. The agreement includes customary covenants, such as maintaining a maximum total net leverage ratio of 4.50 to 1.00 and a minimum interest coverage ratio of 3.00 to 1.00.

Teleflex reported a net loss of $(8.15) million, or $(0.18) diluted EPS, for the first quarter of 2026, a significant decline from a net income of $95.00 million in the prior year period. This loss was heavily influenced by a $(3.32) million loss from discontinued operations and increased restructuring and separation costs. Despite the overall loss, net revenues from continuing operations saw a substantial increase to $548.26 million, driven by growth across its Vascular, Interventional, and Surgical product categories, reflecting ongoing strategic divestitures and business integration efforts.

Teleflex reported first-quarter 2026 revenue from continuing operations of $548.3 million, a 32.3% increase year-over-year, or 5.1% on a pro forma adjusted constant currency basis. GAAP diluted EPS from continuing operations was $(0.11), while adjusted diluted EPS was $1.39, a slight decrease from $1.44 in the prior year. The company maintained its full-year 2026 guidance for both revenue and adjusted diluted EPS. Additionally, Teleflex announced Jason Weidman as its new President and CEO, effective June 8, 2026, and reiterated plans to use proceeds from strategic divestitures for share repurchases and debt reduction.

Teleflex (TFX) announced the appointment of Jason Weidman as its new President and Chief Executive Officer, effective June 8, 2026. Mr. Weidman, previously from Medtronic plc, brings over 25 years of medical technology experience and will replace interim CEO Stuart A. Randle, who remains on the Board. His compensation package includes a $1 million annual base salary, a 125% target annual cash bonus, a $7 million annual equity award target, and sign-on equity grants totaling $8 million. The company expressed confidence in Weidman's ability to lead its growth strategy following recent divestitures.