secwatch.observer — SEC 8-K summary
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Issuer:     Rapid7, Inc. (RPD)
CIK:        0001560327
Form:       8-K
Filed at:   2023-09-08T23:59:59+00:00
Accession:  0001193125-23-231565
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Rapid7 issues $260M 1.25% convertible notes due 2029; repurchases $184M of existing 2.25% notes
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- Issued $260M principal of 1.25% Convertible Senior Notes due March 15, 2029; initial conversion price ~$64.85 (32.5% premium).
- Net proceeds ~$253M; will use ~$201.5M to repurchase $184M of 2.25% Convertible Senior Notes due 2025 in privately negotiated transactions.
- Paid ~$31.7M for capped call transactions to offset potential dilution upon conversion of the new notes.
- Granted initial purchasers option to buy up to an additional $40M principal amount of notes.
- Offering upsized from $250M initially announced; notes are unsecured and rank equal with existing 2025 and 2027 convertible notes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1560327/000119312523231565/0001193125-23-231565-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1560327/000119312523231565/d539131d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-231565

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