debt
confidence high
sentiment neutral
materiality 0.60
WisdomTree prices $130M convertible notes due 2028 at 5.75%, repurchases $115M of 2023 notes
WisdomTree, Inc.
- Priced $130M (plus $20M option) 5.75% convertible senior notes due Aug 15, 2028; conversion price $9.54/share (~60% premium to $5.96 close).
- Proceeds to repurchase $115M of existing 4.25% convertible notes due 2023; net proceeds ~$126.4M (or ~$145.9M with option).
- Notes are senior unsecured, rank equally with existing convertible notes; settlement expected Feb 14, 2023.
- Company may redeem notes after Aug 20, 2025 if stock >=130% of conversion price; holders have put rights upon change of control.