Rapid7 Prices Upsized $260M Convertible Senior Notes Offering
Portfolio Pulse from Benzinga Newsdesk
Rapid7 has priced an upsized offering of $260 million convertible senior notes due 2025. The initial conversion rate for the notes is 13.6106 shares of common stock per $1,000 principal amount of notes, which is equivalent to an initial conversion price of approximately $73.47 per share.

September 06, 2023 | 10:56 am
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Rapid7's upsized offering of $260 million convertible senior notes could potentially dilute existing shareholders if the notes are converted into common stock.
The offering of convertible senior notes by Rapid7 could lead to dilution of existing shareholders if the notes are converted into common stock. This is because the conversion would increase the number of shares outstanding, thereby reducing the value of existing shares. The initial conversion rate is set at 13.6106 shares per $1,000 principal amount of notes, which is equivalent to an initial conversion price of approximately $73.47 per share.
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