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home / articles / CDLX - Why Cardlytics (CDLX) Stock Is Down 30% | Benzinga

CDLX - Why Cardlytics (CDLX) Stock Is Down 30% | Benzinga

Cardlytics Inc.

Cardlytics Inc (NASDAQ:CDLX) shares are trading lower by 34.6% to $13.24 during Tuesday’s session after the company announced a $150 million proposed convertible senior notes offering.

The company says it plans to offer $150.0 million aggregate principal amount of convertible senior notes due 2029 in a private offering to qualified institutional buyers. The notes will be unsecured obligations, accruing interest semi-annually and maturing on April 1, 2029, with conversion options for note holders.

Cardlytics intends to use part of the proceeds to repurchase some of its existing 1.00% convertible senior notes due 2025 and for general corporate purposes. The terms of repurchase transactions and associated derivative activities could affect the market price of Cardlytics’ common stock.

Additionally, Cardlytics may enter into unwind transactions ...

CDLX) Stock Is Down 30%>Full story available on Benzinga.com
Stock Information
Company Name: Cardlytics Inc.
Stock Symbol: CDLX
Market: NASDAQ
Website: cardlytics.com
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