Box, Inc. Announces Proposed $400M Private Offering Of Convertible Senior Notes Due 2029 With Additional $60M Option, Proceeds To Support Repurchase Of 2026 Notes And General Corporate Purposes
Portfolio Pulse from Benzinga Newsdesk
Box, Inc. is planning a $400 million private offering of convertible senior notes due 2029, with an additional $60 million option. The proceeds will be used to repurchase 2026 notes and for general corporate purposes.
September 16, 2024 | 8:13 pm
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Box, Inc. is issuing $400M in convertible senior notes due 2029, with an option for an additional $60M. The funds will be used to repurchase existing 2026 notes and for general corporate purposes.
The issuance of convertible notes is a strategic financial move to manage existing debt and support corporate activities. This could stabilize the company's financial position but may not have an immediate impact on stock price.
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