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http://ir.wisdomtree.com/news-releases/news-release-details/wisdomtree-prices-offering-1500-million-425-convertible-senior

Prices Offering of $150.0 Million of 4.25% Convertible Senior Notes and Intent to Fully Repay Current Debt Outstanding

2020-06-25 15:01:24, , WisdomTree

Content Categorization
/Finance/Investing
/Business & Industrial

Word Count:
1532

Words/Sentence:
41

Reading Time:
15.32 min

Reading Quality:
Advanced

Readability:
16th or higher

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Interest rate of 4.25% – The notes will bear interest at a rate of 4.25% per year, payable semiannually in arrears on June 15 and December 15 of each year, beginning on December 15, 2020.

The share repurchases could have the effect of increasing, or limiting a decline in, the market price of WisdomTree's common stock concurrently with or following the pricing of the notes, and could result in a higher effective conversion price for the notes.

The purchase price per share of WisdomTree's common stock in such repurchases is equal to the last reported sale price of WisdomTree's common stock of $3.70 per share on June 9, 2020.

WisdomTree also granted the initial purchaser of the notes an option to purchase, for settlement during a period of 13 days from, and including, the date the notes are first issued, up to an additional $22.5 million aggregate principal amount of the notes.

At its election, WisdomTree will also settle its conversion obligation in excess of the aggregate principal amount of the notes being converted in either cash, shares of its common stock or a combination of cash and shares of its common stock.

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