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估計，扣除初始買入商的折扣和Box應支付的估計認購費用後，本次發行的淨收益將約爲38920萬美元（如果初始買入商完全行使其購買額外債券的選擇權，將約爲44780萬美元）。 Box預計將動用本次發行的淨收益中的約4560萬美元用於支付下文所述限制性看漲交易的成本。Box還計劃動用本次發行的淨收益中的約19170萬美元用於回購其 2026年到期的0%可轉換高級票據（以下簡稱「2026票據」）中的14000萬美元本金。Box打算將本次發行的剩餘收益用於營運資金和其他一般企業目的，例如回購或償還債務，回購其股本以及潛在收購。