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The company announced that it intends to offer, subject to market conditions and other factors, $500,000,000 aggregate principal amount of convertible senior notes due 2029 (the "notes") in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). BlackLine also intends to grant the initial purchaser of the notes a 13-day option to purchase up to an additional $75,000,000 aggregate principal amount of the notes.
The notes will be senior unsecured obligations of BlackLine and will accrue interest payable semiannually in arrears. The notes will mature on June 1, 2029, unless earlier converted, repurchased or redeemed. The notes will be convertible into cash, shares of BlackLine's common stock ("common stock") or a combination of cash and shares of BlackLine's common stock, at BlackLine's election. The interest rate, initial conversion rate and other terms of the notes will be determined at the time of pricing of the offering.
Posted In: BL
