Groupon issues $197.3M of 6.25% convertible secured notes due 2027

Groupon, Inc.

Exchanged $176.3M of existing 1.125% 2026 notes; raised $20M cash via $21M new notes at 95% issue price.
Notes mature March 15, 2027; interest at 6.25% payable semi-annually; initial conversion price ~$30.00 per share.
Secured by first-priority liens on substantially all assets of Groupon and guarantor subsidiaries.
If SumUp equity not pledged or sold by Nov 20, 2025, notes accrue additional 2.5% interest.
Notes are not redeemable by the company; holders can force repurchase upon a fundamental change at 100%.

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