TechTarget launches $360M convertible notes offering

Dec. 07, 2021 6:03 PM ETTechTarget, Inc. (TTGT)By: Shweta Agarwal, SA News Editor
  • TechTarget (NASDAQ:TTGT) proposes offering of $360M principal amount of convertible senior notes due 2026. In addition, the company has granted initial purchasers an option to purchase up to an additional $54M of notes.
  • The interest rate, initial conversion rate, offering price and other terms not yet determined.
  • TechTarget intends to use a portion of the net proceeds to enter into privately negotiated transactions with certain holders of TechTarget’s 0.125% convertible senior notes due 2025 to repurchase or exchange a portion of its existing notes for cash, common stock or combination of both.
  • Stock is down 4% in after-hours trading.
  • Press Release
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