Box Prices $400M Offering Of Convertible Notes, Featuring 1.50% Interest And 30% Conversion Premium
Portfolio Pulse from Benzinga Newsdesk
Box Inc. has announced a $400 million offering of convertible notes with a 1.50% interest rate and a 30% conversion premium. The company plans to use the proceeds for capped call transactions, repurchasing existing notes, and general corporate purposes.
September 18, 2024 | 5:56 am
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Box Inc. is issuing $400 million in convertible notes with a 1.50% interest rate and a 30% conversion premium. The proceeds will be used for capped call transactions, repurchasing existing notes, and general corporate purposes.
The issuance of convertible notes provides Box with additional capital, which can be used for strategic financial maneuvers such as repurchasing existing debt and potential acquisitions. This can be seen as a positive move to strengthen the company's financial position and flexibility.
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