We provide the latest news
from the world of economics and finance
(RTTNews) - BlackLine, Inc. (BL), an enterprise software company, Wednesday said it has upsized and priced the offering of $600 million 1.00 percent convertible senior notes due 2029.
The offering of the notes in a private placement to qualified institutional buyers, upsized from $500 million, and is expected to close on May 24, 2024.
The notes, to be matured on June 1, 2029, will have an initial conversion rate of 14.6047 shares per $1,000 principal amount of notes. This is equivalent to an initial conversion price of approximately $68.47 per share, a premium of about 30 percent over the closing share price of BlackLine shares on May 21.
BlackLine intends to use net proceeds from this offering of approximately $535.2 million, together with cash on hand, for the repurchase of nearly $919.8 million principal amount of its outstanding 0.00 percent Senior Notes due 2026 at an aggregate repurchase price of about $848.5 million.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
© 2024 Lime Trading (CY) Ltd
Lime Trading (CY) Ltd is authorised and regulated by the Cyprus Securities and Exchange Commission in accordance with license No.281/15 issued on 25/09/2015. The "Just2Trade" trademark is owned by LimeTrading (CY) Ltd.
Registration Number: HE 341520
Address: Lime Trading (CY) Ltd
Magnum Business Center, Office 4B, Spyrou Kyprianou Avenue 78
Limassol 3076, Cyprus
Disclaimer:
All promotions, materials and information of this website may have applied conditions. Please contact the Company for further details
Trading on financial markets carries risks. The value of the investments can both increase and decrease and the investors may lose all their investment capital. In case of a leveraged product, the loss may be more than the initial capital invested. Detailed information on risks associated with trading on financial markets can be found in General Terms and Conditions for the Provision of Investment Services.