WORKIVA INC (WK): debt financing — Workiva issues $625M 1.250% convertible notes due 2028; repurchases $274M of 2026 notes

WORKIVA INC

$625M principal of 1.250% Convertible Senior Notes due 2028 priced; option for additional $100M.
Initial conversion price ~$133.89/share, representing ~30% premium to Aug. 14 close.
Used $397M of proceeds to repurchase $274M of existing 1.125% 2026 notes.
Net proceeds expected ~$615M (or ~$714M if option exercised in full).
Remaining net proceeds for working capital and potential complementary acquisitions.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

WORKIVA INC incurred convertible notes of $625 million with U.S. Bank Trust Company, National Association at 1.250% maturing August 15, 2028.

Instrument: convertible notes
Principal: $625 million
Counterparty: U.S. Bank Trust Company, National Association
Rate: 1.250%
Maturity: August 15, 2028
Event: incurrence

Exact text from the filing

Workiva Inc. (the "Company", "we", "us") entered into a purchase agreement (the “Purchase Agreement”) with Goldman Sachs & Co. LLC (the “Initial Purchaser”), to issue and sell $625 million in aggregate principal amount of 1.250% Convertible Senior Notes due 2028 (the “2028 Notes”), with an option granted to the Initial Purchaser to purchase, for settlement within a

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

WORKIVA INC entered into Purchase Agreement with Goldman Sachs & Co. LLC valued at $625 million (effective 2023-08-14).

Action: entry
Agreement: notes offering
Counterparty: Goldman Sachs & Co. LLC
Value: $625 million
Effective: 2023-08-14

Exact text from the filing

On August 14, 2023, Workiva Inc. (the "Company", "we", "us") entered into a purchase agreement (the “Purchase Agreement”) with Goldman Sachs & Co. LLC (the “Initial Purchaser”), to issue and sell $625 million in aggregate principal amount of 1.250% Convertible Senior Notes due 2028

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WORKIVA INC filing history →

Source: SEC EDGAR

accession 0001445305-23-000139

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