Box Prices $400M Offering Of Convertible Notes, Featuring 1.50% Interest And 30% Conversion Premium
Box Prices $400M Offering Of Convertible Notes, Featuring 1.50% Interest And 30% Conversion Premium
Box estimates that the net proceeds from the offering will be approximately $389.2 million (or $447.8 million if the initial purchasers exercise their option to purchase additional notes in full), after deducting the initial purchasers' discounts and estimated offering expenses payable by Box. Box expects to use approximately $45.6 million of the net proceeds from the offering to pay the cost of the capped call transactions described below. Box also intends to use approximately $191.7 million of the net proceeds from this offering for the repurchase of $140.0 million principal amount of its outstanding 0% Convertible Senior Notes due 2026 (the "2026 Notes"). Box intends to use the remainder of the proceeds from this offering for working capital and other general corporate purposes, such as the repurchase or repayment of debt, repurchases of its capital stock and potential acquisitions.
Box估计，扣除初始买入商的折扣和Box应支付的估计认购费用后，本次发行的净收益将约为38920万美元（如果初始买入商完全行使其购买额外债券的选择权，将约为44780万美元）。 Box预计将动用本次发行的净收益中的约4560万美元用于支付下文所述限制性看涨交易的成本。Box还计划动用本次发行的净收益中的约19170万美元用于回购其 2026年到期的0%可转换高级票据（以下简称“2026票据”）中的14000万美元本金。Box打算将本次发行的剩余收益用于营运资金和其他一般企业目的，例如回购或偿还债务，回购其股本以及潜在收购。
