Five9, Inc. (FIVN): debt financing — Five9 issues $747.5M of 1% convertible notes due 2029, repurchases $313.1M of 2025 notes

Five9, Inc.

Issued $747.5M principal amount 1.00% Convertible Senior Notes due 2029; net proceeds $728.8M.
Used $304.9M of net proceeds to repurchase ~$313.1M of its 0.500% 2025 convertible notes.
Used $93.4M for capped call transactions; remaining proceeds for working capital / general purposes.
Initial conversion price ~$79.42/share, 30% premium over $61.09 closing price on Feb 27, 2024.
Capped call cap price $122.18/share to reduce potential dilution on conversion.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Five9, Inc. incurred convertible notes of $97.5 million principal amount of Notes at 1.00% per year maturing March 15, 2029.

Instrument: convertible notes
Principal: $97.5 million principal amount of Notes
Rate: 1.00% per year
Maturity: March 15, 2029
Event: incurrence

Exact text from the filing

The Notes issued on March 1, 2024 include $97.5 million principal amount of Notes pursuant to the full exercise by the initial purchasers of such option.

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Five9, Inc. incurred convertible notes of $747.5 million principal amount at 1.00% per year maturing March 15, 2029.

Instrument: convertible notes
Principal: $747.5 million principal amount
Rate: 1.00% per year
Maturity: March 15, 2029
Event: incurrence

Exact text from the filing

On March 1, 2024, Five9, Inc. (the “Company”) issued $747.5 million principal amount of its 1.00% Convertible Senior Notes due 2029 (the “Notes”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Five9, Inc. entered into Indenture with U.S. Bank Trust Company, National Association (effective 2024-03-01).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Effective: 2024-03-01

Exact text from the filing

The Notes were issued pursuant to, and are governed by an Indenture, dated March 1, 2024 (the “Indenture”), between the Company and U.S. Bank Trust Company, National Association, as trustee.

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299 debt financings filed in the last 30 days. Browse all debt financings →

Five9, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-056157

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