WisdomTree prices $345M convertible notes, 9% EPS-accretive Series A buyback

WisdomTree, Inc.

WisdomTree priced $300M (with $45M greenshoe exercised) of 3.25% convertible notes due 2029; conversion price $11.82/share (22.5% premium).
Proceeds used: ~$144M to repurchase all 14,750 Series A preferred shares from ETFS Capital (9% earnings accretive).
Also repurchasing ~$104M of 2028 notes (expected $30M loss on extinguishment) and ~$55M of common stock at $9.65/share.
Expected net proceeds ~$337M after discounts and expenses; closing expected August 13, 2024.

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