Informa TechTarget announced on December 20, 2024, the commencement of tender offers to repurchase any and all of its outstanding 0.125% Convertible Senior Notes due 2025 and 0.000% Convertible Senior Notes due 2026. This action is a requirement following the December 2, 2024, merger, which constituted a Fundamental Change under the terms of the indentures governing the Notes.
The company intends to repurchase the notes for cash at 100% of their aggregate principal amount, plus accrued and unpaid interest for the 2025 Notes. As of December 19, 2024, there was $3.04 million in aggregate principal amount of 2025 Notes and $414 million in aggregate principal amount of 2026 Notes outstanding.
If all outstanding notes are tendered, the aggregate cash purchase price would be approximately $417 million. The tender offers are set to expire on January 23, 2025. This strategic move aims to simplify Informa TechTarget's capital structure and reduce potential future dilution from these convertible instruments.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.