Holders of the notes will have the right to require Slack to repurchase all or a portion of their notes at 100% of their principal amount, plus any accrued and unpaid interest, upon the occurrence of certain events. ![]() The notes will be convertible at the option of holders, subject to certain conditions and during certain periods, into cash, shares of Slack’s Class A common stock or a combination of cash and shares of Slack’s Class A common stock, with the form of consideration determined at Slack’s election. No sinking fund is provided for the notes. ![]() The redemption price will equal 100% of the principal amount of the notes being redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. On or after Apand on or before the 21st scheduled trading day immediately before the maturity date, Slack may redeem for cash all or any portion of the notes if the last reported sale price of Slack’s Class A common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which Slack provides notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately preceding the date on which Slack provides notice of redemption. Slack may not redeem the notes prior to April 20, 2023. On or after January 15, 2025, the notes will be convertible at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. Prior to January 15, 2025, the notes will be convertible only upon satisfaction of certain conditions and during certain periods. The notes will mature on April 15, 2025, unless earlier converted, repurchased or redeemed in accordance with their terms. The notes will bear interest at a rate of 0.50% per year, payable semi-annually in arrears on April 15 and October 15 of each year, beginning October 15, 2020. The sale is expected to close on April 9, 2020, subject to customary closing conditions. ![]() In connection with the offering, Slack granted the initial purchasers an option to purchase up to an additional $112.5 million aggregate principal amount of notes. The offering was upsized from the previously announced offering of $600.0 million aggregate principal amount of notes. (NYSE: WORK) announced today the pricing of $750.0 million aggregate principal amount of 0.50% convertible senior notes due 2025 (the “notes”) in a private offering (the “offering”) only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |