BlackLine Announces Proposed Private Offering Of $500M Of Convertible Senior Notes In A Private Placement To Qualified Institutional Buyers; Company Intends To Grant Initial Purchaser 13-day Option To Purchase Up To An Additional $75M
Portfolio Pulse from Benzinga Newsdesk
BlackLine has announced a proposed private offering of $500 million in convertible senior notes due 2029, with an option for the initial purchaser to buy an additional $75 million. The notes will be convertible into cash, shares of BlackLine's common stock, or a combination of both.
May 21, 2024 | 11:44 am
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BlackLine is offering $500 million in convertible senior notes due 2029, with an option for an additional $75 million. The notes will be convertible into cash, shares of BlackLine's common stock, or a combination of both.
The offering of convertible senior notes can provide BlackLine with significant capital, which can be used for growth initiatives or debt repayment. The option to convert the notes into shares may also attract investors looking for equity upside. This is likely to have a positive short-term impact on BlackLine's stock price.
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