- 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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