other material
confidence high
sentiment neutral
materiality 0.75
WisdomTree repurchases all Series A Preferred from ETFS Capital for ~$144M, plans $300M note offering
WisdomTree, Inc.
- Agreed to buy back 14,750 Series A Preferred shares (convertible into 14.75M common shares) from ETFS Capital for ~$144M cash.
- Preferred repurchase contingent on closing of $300M convertible note offering and up to $104M buyback of existing 5.75% notes due 2028.
- Commenced private offering of $300M convertible senior notes due 2029, with initial purchaser option for additional $45M.
- Proceeds to partly fund preferred repurchase, repurchase of ~$104M of 2028 notes, and common stock buybacks from note purchasers.
- Investor Rights Agreement with ETFS Capital will terminate effective upon closing of the preferred repurchase.