Summary by Moomoo AI
Nutanix has successfully issued $862.5 million of 0.50% Convertible Senior Notes due 2029, with an initial conversion price of $85.83 per share, representing a 32.5% premium over the stock price. The notes will bear interest semiannually, starting June 15, 2025, and mature on December 15, 2029, unless earlier converted or redeemed.The company raised net proceeds of approximately $844.5 million and plans to use $95.5 million to repurchase $75 million of its existing 2027 notes and $200 million to repurchase about 3.1 million shares of common stock at $64.78 per share. The share repurchase will not affect the existing repurchase program.The remaining proceeds will fund general corporate purposes, including working capital, capital expenditures, and potential acquisitions. The notes will be convertible under specific conditions before September 15, 2029, and freely convertible thereafter, with settlement in cash, shares, or a combination at Nutanix's election.
