MongoDB, Inc. announced its intention to redeem all $1,149,972,000 aggregate principal amount outstanding of its 0.25% convertible senior notes due 2026. The redemption date is set for December 16, 2024. This move will eliminate a significant portion of the company's outstanding debt.
The redemption price for each note will be 100% of its principal amount, plus accrued and unpaid interest from July 15, 2024, up to the redemption date. Holders have the option to convert their notes into common stock before 5:00 p.m. New York City time on December 13, 2024.
The conversion rate for notes converted during this period is 4.9260 shares of common stock per $1,000 principal amount, which includes an increase of 0.1911 shares due to the redemption call. MongoDB has elected to settle any conversions by delivering shares of its common stock, along with cash for any fractional shares.
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