debt
confidence high
sentiment neutral
materiality 0.70
WisdomTree prices $475M convertible notes at 4.625% due 2030; repurchases $37M of 2028 notes and $90M of stock
WisdomTree, Inc.
- Priced $475M aggregate convertible senior notes due 2030 (4.625% interest, conversion price $19.1545, 45% premium).
- Net proceeds ~$464M; $275M earmarked for Ceres Partners acquisition, $37M to repurchase 2028 notes, $90M to repurchase 6.8M shares.
- Repurchased $24.0M principal of 5.75% 2028 notes (~93% outstanding) for ~$37M cash; one-time extinguishment loss of ~$13M.
- Repurchased ~6.8M common shares from note purchasers at $13.21/share, using ~$90M of proceeds.
- Notes senior unsecured, callable after Aug 2027 if stock ≥130% of conversion price; holders get repurchase rights on change of control.
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