Groupon launches $80M rights offering at $11.30/share, fully backstopped by board affiliates

Groupon, Inc.

Rights offering of $80M gross proceeds; subscription price $11.30/share; backstop by Pale Fire Capital (affiliated with CEO and board member).
Each right allows purchase of 0.222257 shares; distribution to holders of record as of Nov 20, 2023; expiration Jan 17, 2024.
Conversion rate on 1.125% convertible notes due 2026 adjusted from 14.6800 to 15.6619 per $1,000 principal due to the offering.
Company completed sale of ~11.7% of its 2.08% SumUp stake for $10.2M cash in late November 2023.

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