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Yahoo
6 days ago
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- Yahoo
$5.45 Bn Radiation Detection, Monitoring & Safety Markets - Global Forecast to 2030 with Fortive, Thermo Fisher Scientific, Mirion Technologies, Fuji Electric, Ludlum Measurements, and Ametek Leading
Global Radiation Detection Market to Reach USD 5.45 Billion by 2030, Driven by Healthcare Advances and Energy Sector GrowthThe worldwide radiation detection, monitoring & safety market is projected to grow from USD 3.38 billion in 2024 to USD 5.45 billion by 2030, at a CAGR of 8.3%. Increasing use of radiation in healthcare, expansion of nuclear energy, and stringent regulatory standards propel market growth. The demand for radiation detection systems is rising due to the widespread use of imaging technologies in diagnostics and cancer treatments. The radiation detection segment holds the largest market share, driven by the need for compliance and risk mitigation. The Asia Pacific region is expected to be the fastest-growing market. Key players include Fortive, Thermo Fisher Scientific, and Mirion Technologies. Radiation Detection, Monitoring & Safety Market Dublin, June 04, 2025 (GLOBE NEWSWIRE) -- The "Radiation Detection, Monitoring & Safety Market by Product (Personal Dosimeter, Monitor: Area Process, Environment, Surface: Material, Software), Detector: Gas-filled, Scintillator, Solid-state, Type (Body, Face, Hand, Apron) - Global Forecast to 2030" has been added to offering. The global radiation, detection, monitoring & safety market is projected to reach USD 5.45 billion by 2030 from USD 3.38 billion in 2024, growing at a CAGR of 8.3% The report will be beneficial for the new entrants or market leaders and smaller firms in this market in evaluating their investments in the radiation, detection, monitoring & safety sector through a thorough analysis of data as solid bases for risk assessment and well-validated investment decisions. Get detailed market segmentation on the end-user and regional dimensions for customized reporting that can be used to target a specific segment. This report will also contain an exhaustive assessment covering key trends, challenges, growth catalysts, and prospects so that strategic decisions can be made with complete insight. The escalating application of radiation across healthcare, coupled with the burgeoning nuclear energy sector, heightened security considerations, and rigorous regulatory standards, is propelling market expansion. The pervasive implementation of imaging modalities such as X-rays, computed tomography (CT), positron emission tomography (PET), and radiotherapy in clinical diagnostics and oncological treatment has generated substantial demand for advanced radiation detection and monitoring systems. These technologies are essential for ensuring the safety and protection of both patients and healthcare personnel. Prominent players in this market are Fortive (US), Thermo Fisher Scientific Inc. (US), Mirion Technologies Inc. (US), Fuji Electric Co., Ltd. (Japan), Ludlum Measurements, Inc. (US), and Ametek Inc.(US). By product, the radiation detection and monitoring products segment held the largest market share in 2024 The market is categorized into several segments: radiation detection and monitoring products, material monitors, and radioactive monitoring software. As of 2024, the radiation detection and monitoring products segment holds the largest global market share. Regulatory bodies such as the International Atomic Energy Agency (IAEA), the US Nuclear Regulatory Commission (NRC), and the Occupational Safety and Health Administration (OSHA) enforce stringent regulations for the continuous monitoring of radiation exposure among workers and environmental conditions. Industries such as nuclear power, manufacturing, oil & gas, and mining frequently encounter Naturally Occurring Radioactive Materials (NORM). This underscores the critical need for effective radiation detection and monitoring solutions to ensure compliance and mitigate risks. Moreover, the growing frequency of radiation leaks, accidental exposures, and contamination incidents has heightened the demand for advanced real-time monitoring capabilities, further driving the global need for sophisticated radiation detection instruments. The detectors segment held the largest market share in 2024, by composition The market is categorized into three primary segments: detectors, radiation protection products, and radiation safety products. In 2024, the detectors segment represented the largest global market share, driven by rising concerns over radiation exposure from nuclear waste, contaminated sites, and Naturally Occurring Radioactive Materials (NORM) commonly found in sectors such as mining and oil & gas. These environmental factors have escalated the demand for advanced radiation detectors. Regulatory frameworks established by agencies like the International Atomic Energy Agency (IAEA) and the Environmental Protection Agency (EPA) enforce strict protocols for radiation monitoring, further incentivizing the adoption of sophisticated detection technologies. The ongoing trends of miniaturization and technological advancements, particularly in solid-state detectors and real-time monitoring systems, have facilitated broader implementation across various industries. This evolution has positioned modern radiation detectors as essential tools, consolidating their dominance within the market landscape. The Asia Pacific region is expected to register the highest growth rate in the market during the forecast period The Asia Pacific (APAC) region, including major economies such as Japan, India, China, South Korea, Australia, and the Rest of Asia Pacific (RoAPAC), is projected to experience significant growth in the market. The market growth rate surpasses that of other regions, driven by factors including rapid industrialization, advancements in nuclear power initiatives, increased healthcare investments, and heightened security concerns related to radiation. Countries such as China, India, Japan, and South Korea have substantially invested in nuclear energy infrastructure to meet escalating energy demands. This trend has consistently created a robust need for effective radiation monitoring and safety solutions. Furthermore, the expansion of the healthcare sector, particularly the rising utilization of radiation-based diagnostic imaging techniques (such as X-rays, CT, and PET scans) and radiation therapies for cancer treatment, has intensified the demand for radiation detectors and monitoring instruments. The region also faces increased risks from nuclear terrorism and the illicit trafficking of radioactive materials. Consequently, governments must enhance their radiation detection capabilities at critical points, including borders, transportation hubs, and defense installations. Supporting this growth are favorable government policies, a rising public awareness surrounding radiation safety, and the strategic presence of key market players intensifying their operations within the Asia Pacific market. Collectively, these factors position the region as the fastest-growing market for radiation detection technologies globally. Key Attributes: Report Attribute Details No. of Pages 361 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $3.38 Billion Forecasted Market Value (USD) by 2030 $5.45 Billion Compound Annual Growth Rate 8.3% Regions Covered Global Market Dynamics Drivers Growing Number of PET/CT Scans Increasing Usage of Nuclear Medicine and Radiation Therapy Rising Military Expenditure for Homeland Security Increasing Safety Awareness Among People Working in Radiation-Prone Environments Restraints Increasing Use of Alternatives for Nuclear Energy Shift in Nuclear Energy Policies and Increased Nuclear Phase-Out Opportunities Technological Advancements in Radiation Detection Rising Focus on Nuclear Power in Developing Countries Challenges High Cost of Lead for Manufacturing Radiation Safety Products Shortage of Workforce and Skilled Professionals in Nuclear Power Industry Case Studies Comparison of Dose Assessments Using Environmental and Personal Dosimeters in Real-World Radiological and Nuclear Emergency Situations Long-Term Compliance and Safety Culture Through Radiation Monitoring With Personal Dosimeter Devices Assessment of Working Environment and Personal Dosimeter-Wearing Compliance of Industrial Radiographers Based on Chromosome Aberration Frequencies Company Profiles Thermo Fisher Scientific Inc. Mirion Technologies Inc. Fortive Ametek Inc. Fuji Electric Co., Ltd. Ludlum Measurements Inc. Arktis Radiation Detectors Ltd. Polimaster Europe Uab Amray Infab, Llc Iba Worldwide Bertin Technologies Radiation Detection Company Arrow-Tech, Inc. Centronic S.E. International, Inc. Atomtex Nucleonix Systems Alpha Spectra, Inc. Lnd, Inc. Bar Ray Products Trivitron Healthcare Micron Semiconductor Ltd. Scionix Holland B.V. Radcomm Systems Xena Shield Simad Srl Burlington Medical Radiation Protection Products Inc. Nuclear Shields For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Radiation Detection, Monitoring & Safety Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Associated Press
28-05-2025
- Business
- Associated Press
Mirion Technologies Joins Texas Nuclear Alliance as a Founding Member
Austin, TX May 28, 2025 --( )-- The Texas Nuclear Alliance (TNA) proudly welcomes Mirion Technologies, a global leader in advanced radiation safety solutions, as a Founding Member. 'Mirion Technologies stands at the forefront of nuclear innovation, delivering cutting-edge technologies that enhance the safety and performance of nuclear power plants across the entire lifecycle,' said TNA President Reed Clay. 'TNA is proud to partner with Mirion, whose unwavering commitment to excellence and forward-thinking solutions is helping pave the way for a stronger, safer, more resilient nuclear future.' 'We are proud to join the Texas Nuclear Alliance as a founding member,' said Loïc Eloy, President of Mirion Technologies. 'As a leader in the nuclear industry with a commitment to innovation and excellence, it is important for us to collaborate with like-minded organizations to continue to make advancements. We are excited to work alongside the TNA to promote and strengthen the future of safe nuclear power in Texas.' About Mirion Mirion is a global leader in radiation safety, science and medicine, empowering innovations that deliver vital protection while harnessing the transformative potential of ionizing radiation across a diversity of end markets. Focused on nuclear and safety, the Mirion Technologies group is committed to powering advancements in nuclear energy through proven radiation safety technologies and expertise. Dedicated to driving better patient outcomes, the Mirion Medical group is focused on improving quality in cancer care through its broad range of solutions that enhance the delivery and ensure safety across the medical landscape. Headquartered in Atlanta (GA – USA), Mirion employs approximately 2,800 people and operates in 12 countries. Learn more at About the Texas Nuclear Alliance TNA is the only industry association in Texas dedicated to the advancement of nuclear technology in the state. TNA was formed with a singular mission: to make Texas the Nuclear Capital of the World. Formed in 2022 in the aftermath of Winter Storm Uri, TNA is based on the fundamental premise that if Texas and the world want low-carbon, reliable energy, it can no longer turn its back on nuclear energy. Nuclear is clean, safe, reliable, and secure. Contact Information: Texas Nuclear Alliance Lauren Clay 512-567-7604 Contact via Email Read the full story here: Mirion Technologies Joins Texas Nuclear Alliance as a Founding Member Press Release Distributed by
Yahoo
27-05-2025
- Business
- Yahoo
Are Business Services Stocks Lagging Mirion Technologies (MIR) This Year?
The Business Services group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Mirion Technologies, Inc. (MIR) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Business Services sector should help us answer this question. Mirion Technologies, Inc. is a member of our Business Services group, which includes 270 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst. The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Mirion Technologies, Inc. is currently sporting a Zacks Rank of #2 (Buy). Over the past 90 days, the Zacks Consensus Estimate for MIR's full-year earnings has moved 2.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving. Based on the most recent data, MIR has returned 8% so far this year. In comparison, Business Services companies have returned an average of 1.7%. As we can see, Mirion Technologies, Inc. is performing better than its sector in the calendar year. Another stock in the Business Services sector, Mitie Group PLC. (MITFY), has outperformed the sector so far this year. The stock's year-to-date return is 50%. In Mitie Group PLC.'s case, the consensus EPS estimate for the current year increased 4.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy). To break things down more, Mirion Technologies, Inc. belongs to the Technology Services industry, a group that includes 129 individual companies and currently sits at #51 in the Zacks Industry Rank. This group has gained an average of 1.6% so far this year, so MIR is performing better in this area. Mitie Group PLC. however, belongs to the Business - Services industry. Currently, this 26-stock industry is ranked #33. The industry has moved +16.8% so far this year. Going forward, investors interested in Business Services stocks should continue to pay close attention to Mirion Technologies, Inc. and Mitie Group PLC. as they could maintain their solid performance. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Mirion Technologies, Inc. (MIR) : Free Stock Analysis Report Mitie Group PLC. (MITFY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Business Wire
21-05-2025
- Business
- Business Wire
Mirion Technologies Announces Pricing of Upsized $350.0 Million Offering of 0.25% Convertible Senior Notes Due 2030
ATLANTA--(BUSINESS WIRE)-- Mirion Technologies, Inc. ('Mirion') (NYSE: MIR), today announced the pricing of $350.0 million aggregate principal amount of 0.25% Convertible Senior Notes due 2030 (the 'Notes') in a private placement (the 'Offering') to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the 'Securities Act'). The size of the Offering was increased from the previously announced $300.0 million aggregate principal amount of Notes. In connection with the Offering, Mirion granted the initial purchasers of the Notes an option to purchase, within a 13-day period beginning on, and including, the date on which the Notes are first issued, up to an additional $50.0 million aggregate principal amount of Notes. The Offering is expected to close on May 23, 2025, subject to customary closing conditions. The Notes will be general unsecured obligations of Mirion and will accrue interest payable semiannually in arrears on June 1 and December 1 of each year, beginning on December 1, 2025, at a rate of 0.25% per year. The Notes will mature on June 1, 2030, unless earlier converted, redeemed or repurchased. Mirion estimates that the net proceeds from the Offering will be approximately $339.1 million (or approximately $387.7 million if the initial purchasers exercise their option to purchase additional Notes in full) after deducting the initial purchasers' discounts and commissions and estimated Offering expenses payable by Mirion. Mirion expects the net proceeds from the Offering will be used as follows: (i) to pay the approximately $39.1 million cost of the capped call transactions described below; (ii) to repay $250.0 million of the outstanding term loans under its senior secured term loan; (iii) to pay $31.0 million to repurchase shares of Mirion's Class A common stock; and (iv) the balance for general corporate purposes and working capital. Mirion expects to use a portion of the net proceeds from the sale of the additional Notes to enter into additional capped call transactions with the Option Counterparties (as defined below) and the remaining net proceeds for general corporate purposes and working capital. The Notes will be convertible at the option of the holders in certain circumstances. The Notes will be convertible into cash, shares of Mirion's Class A common stock or a combination of cash and shares of Mirion's Class A common stock, at Mirion's election. The initial conversion rate is 43.2751 shares of Mirion's Class A common stock per $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $23.11 per share of Mirion's Class A common stock, which represents a conversion premium of 32.5% to the last reported sale price of Mirion's Class A common stock on The New York Stock Exchange on May 20, 2025), and will be subject to customary anti-dilution adjustments. Mirion may not redeem the Notes prior to June 6, 2028. Mirion may redeem for cash all or any portion of the Notes (subject to certain limitations), at its option, on or after June 6, 2028, but only if a certain liquidity condition has been satisfied and the last reported sale price of Mirion's Class A common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which Mirion provides notice of redemption at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If Mirion redeems less than all of the outstanding Notes, at least $100 million aggregate principal amount of Notes must be outstanding and not subject to redemption as of, and after giving effect to, delivery of the relevant redemption notice. If Mirion undergoes a 'fundamental change,' (as defined in the indenture governing the Notes), subject to certain conditions and limited exceptions, holders may require Mirion to repurchase for cash all or any portion of their Notes in principal amounts of $1,000 or an integral multiple thereof at a repurchase price equal to 100.0% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. In addition, following certain corporate events that occur prior to the maturity date of the Notes or if Mirion delivers a notice of redemption, Mirion will, in certain circumstances, increase the conversion rate of the Notes for a holder who elects to convert its Notes in connection with such a corporate event or convert its Notes called (or deemed called) for redemption during the related redemption period, as the case may be. In connection with the pricing of the Notes, Mirion entered into capped call transactions with certain of the initial purchasers thereof or their respective affiliates and certain other financial institutions (the 'Option Counterparties'). The capped call transactions cover, subject to anti-dilution adjustments substantially similar to those applicable to the Notes, the number of shares of Mirion's Class A common stock initially underlying the Notes. The capped call transactions are expected generally to reduce the potential dilution to Mirion's Class A common stock upon any conversion of the Notes and/or offset any cash payments Mirion is required to make in excess of the principal amount of converted Notes, as the case may be, with such reduction and/or offset subject to a cap. The cap price of the capped call transactions relating to the Notes will initially be $34.88, which represents a premium of 100% over the last reported sale price of Mirion's Class A common stock on The New York Stock Exchange on May 20, 2025, and is subject to certain adjustments under the terms of the capped call transactions. In connection with establishing their initial hedges of the capped call transactions, Mirion expects the Option Counterparties or their respective affiliates will enter into various derivative transactions with respect to Mirion's Class A common stock and/or purchase shares of Mirion's Class A common stock concurrently with or shortly after the pricing of the Notes, including with, or from, as the case may be, certain investors in the Notes. This activity could increase (or reduce the size of any decrease in) the market price of Mirion's Class A common stock or the trading price of the Notes at that time. In addition, the Option Counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Mirion's Class A common stock and/or purchasing or selling Mirion's Class A common stock or other securities of Mirion in secondary market transactions following the pricing of the Notes and prior to the maturity of the Notes (and (x) are likely to do so during any observation period related to a conversion of the Notes or following any repurchase of the Notes in connection with any redemption or fundamental change and (y) are likely to do so following any other repurchase of the Notes, if Mirion elects to unwind a corresponding portion of the capped call transactions in connection with such repurchase). This activity could also cause or avoid an increase or a decrease in the market price of Mirion's Class A common stock or the Notes which could affect a noteholder's ability to convert the Notes and, to the extent the activity occurs during any observation period related to a conversion of Notes, this could affect the number of shares, if any, and value of the consideration that a noteholder will receive upon conversion of its Notes. Concurrently with the pricing of the Notes, Mirion entered into privately negotiated transactions effected through one of the initial purchasers or one of its affiliates to use $31.0 million of the net proceeds from the Offering to repurchase shares of Mirion's Class A common stock. Mirion repurchased shares of Class A common stock sold short by initial investors in this Offering at a purchase price per share equal to the last reported sale price per share of Mirion's Class A common stock on the date hereof, which was $17.44 per share. Such repurchases of shares of Mirion's Class A common stock are separate from, and in addition to, repurchases under Mirion's existing stock repurchase program. These repurchases could have affected the market price of Mirion's Class A common stock prior to, concurrently with or shortly after the pricing of the Notes, and could have resulted in a higher effective conversion price for the Notes. Mirion cannot predict the magnitude of such market activity or the overall effect it had on the market price of Mirion's Class A common stock or the conversion price for the Notes. The Offering of the Notes is not contingent upon the repurchase of any Class A common stock. The Notes sold in the Offering were only offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act by means of a private offering memorandum. The Notes and any shares of Mirion's Class A common stock potentially issuable upon conversion of the Notes have not been and will not be registered under the Securities Act, any state securities laws or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities nor shall it constitute an offer, solicitation or sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction. Forward-Looking Statements This press release contains forward-looking statements including statements concerning the timing and completion of the Offering and the capped call transactions; the anticipated use of proceeds from the Offering. The words 'believe,' 'may,' 'will,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'expect,' 'seek,' 'plan,' 'project,' 'target,' 'looking ahead,' 'look to,' 'move into,' and similar expressions are intended to identify forward-looking statements. Forward-looking statements represent Mirion's current beliefs, estimates and assumptions only as of the date of this press release and information contained in this press release should not be relied upon as representing Mirion's estimates as of any subsequent date. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Risks include, but are not limited to market risks, trends and conditions. These risks are not exhaustive. Further information on these and other risks that could affect Mirion's results is included in its filings with the Securities and Exchange Commission ('SEC'), including its Annual Report on Form 10-K for the year ended December 31, 2024, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 and the future reports that it may file from time to time with the SEC. Mirion assumes no obligation to, and does not currently intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Yahoo
21-05-2025
- Business
- Yahoo
Mirion Technologies Announces Pricing of Upsized $350.0 Million Offering of 0.25% Convertible Senior Notes Due 2030
ATLANTA, May 21, 2025--(BUSINESS WIRE)--Mirion Technologies, Inc. ("Mirion") (NYSE: MIR), today announced the pricing of $350.0 million aggregate principal amount of 0.25% Convertible Senior Notes due 2030 (the "Notes") in a private placement (the "Offering") to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The size of the Offering was increased from the previously announced $300.0 million aggregate principal amount of Notes. In connection with the Offering, Mirion granted the initial purchasers of the Notes an option to purchase, within a 13-day period beginning on, and including, the date on which the Notes are first issued, up to an additional $50.0 million aggregate principal amount of Notes. The Offering is expected to close on May 23, 2025, subject to customary closing conditions. The Notes will be general unsecured obligations of Mirion and will accrue interest payable semiannually in arrears on June 1 and December 1 of each year, beginning on December 1, 2025, at a rate of 0.25% per year. The Notes will mature on June 1, 2030, unless earlier converted, redeemed or repurchased. Mirion estimates that the net proceeds from the Offering will be approximately $339.1 million (or approximately $387.7 million if the initial purchasers exercise their option to purchase additional Notes in full) after deducting the initial purchasers' discounts and commissions and estimated Offering expenses payable by Mirion. Mirion expects the net proceeds from the Offering will be used as follows: (i) to pay the approximately $39.1 million cost of the capped call transactions described below; (ii) to repay $250.0 million of the outstanding term loans under its senior secured term loan; (iii) to pay $31.0 million to repurchase shares of Mirion's Class A common stock; and (iv) the balance for general corporate purposes and working capital. Mirion expects to use a portion of the net proceeds from the sale of the additional Notes to enter into additional capped call transactions with the Option Counterparties (as defined below) and the remaining net proceeds for general corporate purposes and working capital. The Notes will be convertible at the option of the holders in certain circumstances. The Notes will be convertible into cash, shares of Mirion's Class A common stock or a combination of cash and shares of Mirion's Class A common stock, at Mirion's election. The initial conversion rate is 43.2751 shares of Mirion's Class A common stock per $1,000 principal amount of Notes (equivalent to an initial conversion price of approximately $23.11 per share of Mirion's Class A common stock, which represents a conversion premium of 32.5% to the last reported sale price of Mirion's Class A common stock on The New York Stock Exchange on May 20, 2025), and will be subject to customary anti-dilution adjustments. Mirion may not redeem the Notes prior to June 6, 2028. Mirion may redeem for cash all or any portion of the Notes (subject to certain limitations), at its option, on or after June 6, 2028, but only if a certain liquidity condition has been satisfied and the last reported sale price of Mirion's Class A common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which Mirion provides notice of redemption at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If Mirion redeems less than all of the outstanding Notes, at least $100 million aggregate principal amount of Notes must be outstanding and not subject to redemption as of, and after giving effect to, delivery of the relevant redemption notice. If Mirion undergoes a "fundamental change," (as defined in the indenture governing the Notes), subject to certain conditions and limited exceptions, holders may require Mirion to repurchase for cash all or any portion of their Notes in principal amounts of $1,000 or an integral multiple thereof at a repurchase price equal to 100.0% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. In addition, following certain corporate events that occur prior to the maturity date of the Notes or if Mirion delivers a notice of redemption, Mirion will, in certain circumstances, increase the conversion rate of the Notes for a holder who elects to convert its Notes in connection with such a corporate event or convert its Notes called (or deemed called) for redemption during the related redemption period, as the case may be. In connection with the pricing of the Notes, Mirion entered into capped call transactions with certain of the initial purchasers thereof or their respective affiliates and certain other financial institutions (the "Option Counterparties"). The capped call transactions cover, subject to anti-dilution adjustments substantially similar to those applicable to the Notes, the number of shares of Mirion's Class A common stock initially underlying the Notes. The capped call transactions are expected generally to reduce the potential dilution to Mirion's Class A common stock upon any conversion of the Notes and/or offset any cash payments Mirion is required to make in excess of the principal amount of converted Notes, as the case may be, with such reduction and/or offset subject to a cap. The cap price of the capped call transactions relating to the Notes will initially be $34.88, which represents a premium of 100% over the last reported sale price of Mirion's Class A common stock on The New York Stock Exchange on May 20, 2025, and is subject to certain adjustments under the terms of the capped call transactions. In connection with establishing their initial hedges of the capped call transactions, Mirion expects the Option Counterparties or their respective affiliates will enter into various derivative transactions with respect to Mirion's Class A common stock and/or purchase shares of Mirion's Class A common stock concurrently with or shortly after the pricing of the Notes, including with, or from, as the case may be, certain investors in the Notes. This activity could increase (or reduce the size of any decrease in) the market price of Mirion's Class A common stock or the trading price of the Notes at that time. In addition, the Option Counterparties or their respective affiliates may modify their hedge positions by entering into or unwinding various derivatives with respect to Mirion's Class A common stock and/or purchasing or selling Mirion's Class A common stock or other securities of Mirion in secondary market transactions following the pricing of the Notes and prior to the maturity of the Notes (and (x) are likely to do so during any observation period related to a conversion of the Notes or following any repurchase of the Notes in connection with any redemption or fundamental change and (y) are likely to do so following any other repurchase of the Notes, if Mirion elects to unwind a corresponding portion of the capped call transactions in connection with such repurchase). This activity could also cause or avoid an increase or a decrease in the market price of Mirion's Class A common stock or the Notes which could affect a noteholder's ability to convert the Notes and, to the extent the activity occurs during any observation period related to a conversion of Notes, this could affect the number of shares, if any, and value of the consideration that a noteholder will receive upon conversion of its Notes. Concurrently with the pricing of the Notes, Mirion entered into privately negotiated transactions effected through one of the initial purchasers or one of its affiliates to use $31.0 million of the net proceeds from the Offering to repurchase shares of Mirion's Class A common stock. Mirion repurchased shares of Class A common stock sold short by initial investors in this Offering at a purchase price per share equal to the last reported sale price per share of Mirion's Class A common stock on the date hereof, which was $17.44 per share. Such repurchases of shares of Mirion's Class A common stock are separate from, and in addition to, repurchases under Mirion's existing stock repurchase program. These repurchases could have affected the market price of Mirion's Class A common stock prior to, concurrently with or shortly after the pricing of the Notes, and could have resulted in a higher effective conversion price for the Notes. Mirion cannot predict the magnitude of such market activity or the overall effect it had on the market price of Mirion's Class A common stock or the conversion price for the Notes. The Offering of the Notes is not contingent upon the repurchase of any Class A common stock. The Notes sold in the Offering were only offered to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A promulgated under the Securities Act by means of a private offering memorandum. The Notes and any shares of Mirion's Class A common stock potentially issuable upon conversion of the Notes have not been and will not be registered under the Securities Act, any state securities laws or the securities laws of any other jurisdiction, and unless so registered, may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and other applicable securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities nor shall it constitute an offer, solicitation or sale of any securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification thereof under the securities laws of any such state or jurisdiction. Forward-Looking Statements This press release contains forward-looking statements including statements concerning the timing and completion of the Offering and the capped call transactions; the anticipated use of proceeds from the Offering. The words "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "seek," "plan," "project," "target," "looking ahead," "look to," "move into," and similar expressions are intended to identify forward-looking statements. Forward-looking statements represent Mirion's current beliefs, estimates and assumptions only as of the date of this press release and information contained in this press release should not be relied upon as representing Mirion's estimates as of any subsequent date. These forward-looking statements are subject to risks, uncertainties, and assumptions. If the risks materialize or assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Risks include, but are not limited to market risks, trends and conditions. These risks are not exhaustive. Further information on these and other risks that could affect Mirion's results is included in its filings with the Securities and Exchange Commission ("SEC"), including its Annual Report on Form 10-K for the year ended December 31, 2024, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 and the future reports that it may file from time to time with the SEC. Mirion assumes no obligation to, and does not currently intend to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. View source version on Contacts For investor inquiries, please contact: Eric Linnir@ For media inquiries, please contact: Erin Schesnymedia@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
