CFLT - Confluent to raise $1B in convertible senior notes offering

Confluent (NASDAQ:CFLT) trades 4.2% down premarket after it plans to offer $1B principal amount of Convertible Senior Notes due 2027 in a private placement. Initial purchasers will be granted 13-days option to purchase up to an additional $100M principal amount of Notes. The notes will be convertible into cash, shares of Confluent’s Class A common stock or a combination of cash and shares of Confluent’s Class A common stock, at Confluent’s election. Net proceeds to be used for paying the cost of the capped call transactions while remaining to be used for general corporate purposes; it may also use partial for acquisitions of, or strategic investments in, complementary businesses, products, services, or technologies.

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Confluent to raise $1B in convertible senior notes offering