debt
confidence high
sentiment neutral
materiality 0.55
ChargePoint raises $300M through convertible senior notes due 2027
ChargePoint Holdings, Inc.
- $300M aggregate principal; 3.50% cash / 5.00% PIK interest; due April 1, 2027.
- Conversion price set at 30% premium to VWAP over pre-closing period; settlement in cash, stock or mix at company's election.
- Transaction expected to close on April 12, 2022; net proceeds for general corporate purposes.
- Notes guaranteed by ChargePoint, Inc.; Evercore served as exclusive financial advisor.
- Notes unregistered but transferable under Rule 144A; resale registration statement to be filed after closing.