secwatch.observer — SEC 8-K summary
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Issuer:     BLACKLINE, INC. (BL)
CIK:        0001666134
Form:       8-K
Filed at:   2024-05-24T23:59:59+00:00
Accession:  0001193125-24-147012
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

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1666134/000119312524147012/0001193125-24-147012-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1666134/000119312524147012/d650725d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-147012

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