Five9 Prices Upsized $650M 1.00% Convertible Senior Notes Due 2029
Portfolio Pulse from Benzinga Newsdesk
Five9, Inc. has upsized its offering of convertible senior notes due 2029 to $650 million at 1.00% interest, from the previously announced $600 million. The offering may increase to $747.5 million if the initial purchasers exercise their option to buy additional notes. The sale is expected to close on March 1, 2024, with net proceeds of approximately $633.5 million, potentially rising to $728.8 million.
February 28, 2024 | 8:18 am
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Five9, Inc. has increased its convertible senior notes offering to $650 million, with the potential to expand to $747.5 million. This financial move is aimed at raising net proceeds of approximately $633.5 million to $728.8 million.
The upsizing of the convertible senior notes offering by Five9 indicates a strong demand from institutional investors, which is a positive signal for the company's financial health and growth prospects. The substantial net proceeds expected from this offering could be used for strategic investments or to strengthen the company's balance sheet, potentially leading to a positive short-term impact on the stock price.
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