secwatch.observer — SEC 8-K summary
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Issuer:     8X8 INC /DE/ (EGHT)
CIK:        0001023731
Form:       8-K
Filed at:   2022-08-16T23:59:59+00:00
Accession:  0001193125-22-222428
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1023731/000119312522222428/0001193125-22-222428-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1023731/000119312522222428/d373894d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-222428

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer