BigCommerce exchanges $161.2M of 0.25% convertible notes for $150M of 7.5% notes due 2028

Commerce.com, Inc.

Exchanged $161.2M of 0.25% notes due 2026 for $150M of 7.5% notes due 2028.
New notes mature Oct 1, 2028; interest semi-annual at 7.5% starting Oct 1, 2024.
Initial conversion price $16.00/share (62.5 shares per $1,000 principal).
Issuer may redeem notes after Oct 7, 2026 if stock exceeds 130% of conversion price.
Holders can force repurchase on Fundamental Change at principal plus accrued interest.

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