8x8 issues $202M 4.00% convertible notes due 2028; exchanges $404M 0.50% notes and repurchases $60M stock

8X8 INC /DE/

Issued $202M aggregate principal of 4.00% Convertible Senior Notes due 2028 under an indenture with Wilmington Trust.
Exchanged $404M of 0.50% Convertible Senior Notes due 2024 for $202M new notes plus $182M cash via private agreements.
Repurchased ~$60M of common stock at $5.61/share from exchanging holders, concurrently with the exchange.
Initial conversion price on new notes is ~$7.15/share (139.8064 shares per $1,000 principal); notes redeemable after Aug 6, 2025.
Term loan of $250M drawn on Aug 10, 2022, as previously disclosed; proceeds used alongside exchange transactions.

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