![]() This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.Ĭarbonite (NASDAQ:CARB) is a leading provider of cloud and hybrid data protection solutions for small and midsized businesses. ![]() state securities laws or other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The notes and shares of Carbonite common stock issuable upon conversion, if any, have not been registered under the Securities Act, or under any U.S. Any such repurchases may increase, or prevent a decrease in, the market price of Carbonite’s common stock or the notes, which could result in a higher effective conversion price for the notes. The purchase price per share of Carbonite’s common stock in repurchases conducted concurrently with the pricing of the notes was equal to the last reported sale price of $19.50 per share of its common stock on the Nasdaq Global Market on March 29, 2017. Carbonite will satisfy any conversion elections by paying or delivering, as the case may be, cash, shares of its common stock or a combination of cash and shares of its common stock, at its election.Ĭarbonite intends to use (i) approximately $40.0 million of the net proceeds from the offering to repay all amounts outstanding under its revolving credit facility, including the related letters of credit, and to terminate the facility (ii) approximately $15.0 million of the net proceeds from the offering to repurchase shares of its common stock from purchasers of notes in the offering in privately negotiated transactions effected through one or more of the initial purchasers or their affiliates conducted currently with the pricing of the notes and (iii) the remaining net proceeds for general corporate purposes, including potential acquisitions. Prior to January 1, 2022, the notes will be convertible only upon satisfaction of certain conditions and during certain periods, and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date. The initial conversion rate for the notes is 38.7034 shares of Carbonite’s common stock per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $25.84 per share of Carbonite’s common stock), which represents an approximately 32.50% conversion premium over the last reported sale price of $19.50 per share of Carbonite’s common stock on the Nasdaq Global Market on March 29, 2017. The notes will mature on April 1, 2022, unless earlier repurchased, redeemed or converted. ![]() The notes will bear interest at a rate of 2.50% per year, payable semiannually in arrears on April 1 and October 1 of each year, beginning on October 1, 2017. The notes will be Carbonite’s senior unsecured obligations. The offering of the notes is expected to close on April 4, 2017, subject to customary closing conditions. Carbonite also has granted to the initial purchasers of the notes a 30-day option to purchase up to an additional $18.75 million aggregate principal amount of the notes, solely to cover over-allotments. The notes were offered only to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). ![]() (NASDAQ:CARB) (“Carbonite” or the “Company”) announced today the pricing of its previously announced private offering of $125 million aggregate principal amount of 2.50% Convertible Senior Notes due 2022 (the “notes”) in a private offering. BOSTON, Ma(GLOBE NEWSWIRE) - Carbonite, Inc. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |