MongoDB proposes convertible senior notes offering of USD 750m.
M2 EQUITYBITES-January 13, 2020-MongoDB proposes convertible senior notes offering of USD 750m
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MongoDB, Inc. (Nasdaq: MDB), a general purpose database platform, has announced that it intends to offer USD 750 million aggregate principal amount of convertible senior notes due 2026 in a private placement, the company said.
MongoDB intends to use a portion of the net proceeds from the offering to pay the cost of the capped call transactions and to repurchase for cash up to approximately USD 240 million of the aggregate principal amount of MongoDB's existing 0.75% Convertible Senior Notes due 2024 through individually privately negotiated transactions concurrently with the offering of the notes. MongoDB intends to use the remainder of the net proceeds for working capital and other general corporate purposes.
MongoDB is designed to unleash the power of software and data for developers and the applications they build. Headquartered in New York, MongoDB has more than 15,900 customers in over 100 countries. The MongoDB database platform has been downloaded over 80 million times and there have been more than one million MongoDB University registrations.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jan 13, 2020|
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