secwatch.observer — SEC 8-K summary
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Issuer:     Cardlytics, Inc. (CDLX)
CIK:        0001666071
Form:       8-K
Filed at:   2024-04-01T23:59:59+00:00
Accession:  0001666071-24-000053
Event type: debt
Sentiment:  negative
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cardlytics issues $172.5M of 4.25% convertible notes due 2029, repurchases $183.9M of 2025 notes
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- Issued $172.5M principal of 4.25% convertible senior notes due 2029, including full exercise of $22.5M initial purchasers' option.
- Initial conversion price ~$18.02/share, a 32.5% premium over $13.60 closing price on March 26, 2024.
- Net proceeds ~$169.3M plus cash used to repurchase ~$183.9M of existing 1.00% convertible notes due 2025.
- Notes mature April 1, 2029; interest payable semi-annually at 4.25%, first payment October 1, 2024.
- Conversions settled at company's option in cash, common stock, or combination; conversion rate adjustable.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1666071/000166607124000053/0001666071-24-000053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1666071/000166607124000053/cdlx-20240401.htm
  HTML page:      https://secwatch.observer/filing/0001666071-24-000053

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer