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MongoDB proposes $750M convertible debt offering

|About: MongoDB, Inc. (MDB)|By: , SA News Editor

MongoDB (NASDAQ:MDB) has proposed a private offering of $750M in convertible debt.

The company will offer that amount in convertible senior notes due 2026. It intends to offer initial purchasers a 13-day option to buy up to an addition $112.5M worth.

They'll be convertible under certain circumstances into cash, shares of class A common stock or a combination thereof, at the company's election.

Part of the proceeds will go to related capped call transactions, and to repurchase for cash up to $240M of existing 0.75% convertible senior notes due 2024.

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