BlackLine issues $600M 1% convertible notes due 2029; repurchases $919.8M of 2026 notes

BLACKLINE, INC.

Issued $600M principal of 1.00% convertible senior notes due 2029; initial conversion price $68.47 per share (30% premium).
Net proceeds ~$588.3M; used $53.1M for capped calls and ~$848.5M to repurchase $919.8M of outstanding 2026 notes.
Capped calls cover ~8.763M shares with cap at $92.17/share, reducing dilution upon conversion.
Notes convertible under certain conditions; redeemable after June 5, 2027 if stock price ≥130% of conversion price.
Interest at 1% per annum payable semiannually; first payment Dec 1, 2024.

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