TTGT - TechTarget launches $175M convertible senior notes
TechTarget (TTGT) to issue $175M of convertible senior unsecured notes due December 15, 2025.Initial purchasers granted an option to purchase up to an additional $26.25M of notes. The company intends to use ~$150M of the net proceeds to fund the cash consideration payable for proposed acquisition of BrightTalk Limited and the remaining proceeds to fund, together with cash on hand, the $20M initial purchase price for B2B information technology enterprise customers. Interest on the notes will be payable semi-annually in arrears on June 15 and December 15 of each year, beginning on June 15, 2021.Shares down 1.3% premarket.
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TechTarget launches $175M convertible senior notes