TTGT - TechTarget prices $175M private convertible debt offering

TechTarget (TTGT) has priced private offering of $175M of its 0.125% convertible senior unsecured notes due December 15, 2025.Initial purchasers granted an option to purchase up to an additional $26.25M of notes.Closing date is December 17. 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. Net proceeds will be ~$169.1M (or ~$194.6M if the initial purchasers exercise their option), of which ~$150M will be used 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.

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TechTarget prices $175M private convertible debt offering