Bandwidth Inc. announced the pricing of a private offering of $275 million in aggregate principal amount of 0% convertible senior notes due 2032. The sale, made to qualified institutional buyers, is expected to close on June 18, 2026, and includes an option for purchasers to acquire an additional $41.25 million in notes.
Key Details
- Offering Size: $275 million aggregate principal amount of 0% Convertible Senior Notes due July 1, 2032.
- Conversion Terms: The initial conversion price is approximately $72.64 per share, a 37.5% premium over the stock's closing price of $52.83 on June 15, 2026.
- Use of Proceeds: Estimated net proceeds of $263.6 million will be used to repurchase a portion of its 2028 convertible notes ($116.5M), fund capped call transactions ($19.0M), repurchase common stock ($10.0M), repay outstanding debt, and for general corporate purposes.