debt
confidence high
sentiment neutral
materiality 0.40
Rapid7 completes conversion of $43.4M notes into ~0.7M shares, redeems remaining $2M
Rapid7, Inc.
- Converted ~$43.4M principal of 1.25% convertible notes due 2023 into $43.4M cash and ~0.7M shares of common stock.
- Redeemed remaining $2.0M principal of notes for $2.0M cash on November 30, 2021.
- Conversion rate was 24.0460 shares per $1,000 principal, increased by 0.0022 shares for early conversions.
- Notes originally issued in August 2018 for $230M aggregate principal.
- Equity issued in reliance on Section 3(a)(9) exemption from registration.