Twitter to raise $1.25 billion through convertible note offering

Mar. 01, 2021 7:28 AM ETTwitter, Inc. (TWTR)TWTRBy: Brandy Betz, SA News Editor20 Comments
  • Twitter (NYSE:TWTR) intends a private offer with $1.25B aggregate principal amount of convertible senior notes due in 2026.
  • Initial purchasers of the notes will have a 13-day option to buy up to an additional $187.5M of notes to cover any over-allotments, if any.
  • The notes will be convertible into cash, Twitter common stock, or a combination at Twitter's election.
  • Interest rate, initial conversion rate, and other terms will be determined at the time of pricing.
  • Press release.
  • Twitter shares are up 0.9% pre-market to $77.75.
  • Last week, Twitter held its analyst day and discussed revenue strategies that included "super followers."

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