2023-06-08 06:15:00 ET
- Affirm Holdings ( NASDAQ: AFRM ) authorized the repurchase of up to $800M in aggregate principal amount of its outstanding 0% convertible senior notes due 2026 through December 31, 2023 in privately negotiated transactions.
- There is no minimum principal amount of 2026 notes that the Company is obligated to repurchase.
- In exchange for paying cash in connection with any such repurchases, the Company will receive and cancel the repurchased 2026 Notes. If the company repurchases entire $800M in aggregate principal amount, ~$626M in aggregate principal amount of the 2026 notes will remain outstanding with terms unchanged.
- Press Release
- Affirm Holdings stock surged yesterday after Amazon Pay adds its Adaptive Checkout .
For further details see:
Affirm authorizes buyback of up to $800M convertible senior notes 2026