Not exact matches
One way to do this is by
offering existing investors the incentive
of a
convertible note that converts into shares at the closing
of the
offering at a discounted price.
Marriott Vacations Worldwide Corporation (NYSE: VAC)(the «Company») announced today the pricing on September 20, 2017
of the
offering of $ 200 million aggregate principal amount
of convertible senior
notes due 2022 (the «
notes»).
Marriott Vacations Worldwide Corporation (NYSE: VAC)(the «Company») announced today that it intends to
offer, subject to market and other conditions, $ 200 million aggregate principal amount
of convertible senior
notes due 2022 (the «
notes») in a private
offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act
of 1933, as amended (the «Securities Act»).
The
offering of the
notes and the
convertible hedge and warrant transactions described below are expected to close on September 25, 2017, subject to customary closing conditions.
Among our most recent solutions is a proprietary form
of convertible note specifically designed for companies leveraging Title III (Reg CF)
offerings, which enables startups to reap the benefits
of the crowd, maintain a clean cap table, and continue to raise capital from institutional investors.
on a pro forma basis, giving effect to (i) the automatic conversion
of all
of our outstanding shares
of convertible preferred stock other than Series FP preferred stock into shares
of Class B common stock and the conversion
of Series FP preferred stock into shares
of Class C common stock in connection with our initial public
offering, (ii) stock - based compensation expense
of approximately $ 1.1 billion associated with outstanding RSUs subject to a performance condition for which the service - based vesting condition was satisfied as
of December 31, 2016 and which we will recognize on the effectiveness
of our registration statement in connection with a qualifying initial public
offering, as further described in
Note 1 to our consolidated financial statements included elsewhere in this prospectus, (iii) the increase in accrued expenses and other current liabilities and an equivalent decrease in additional paid - in capital
of $ 187.2 million in connection with the withholding tax obligations, based on $ 16.33 per share, which is the fair value
of our common stock as
of December 31, 2016, as we intend to issue shares
of Class A common stock and Class B common stock on a net basis to satisfy the associated withholding tax obligations, (iv) the net issuance
of 7.6 million shares
of Class A common stock and 5.5 million shares
of Class B common stock that will vest and be issued from the settlement
of such RSUs, (v) the issuance
of the CEO award, as described below, and (vi) the filing and effectiveness
of our amended and restated certificate
of incorporation which will be in effect on the completion
of this
offering.
The pro forma consolidated balance sheet data gives effect to (i) the automatic conversion
of all
of our outstanding shares
of convertible preferred stock other than Series FP preferred stock into shares
of Class B common stock and the conversion
of Series FP preferred stock into shares
of Class C common stock in connection with our initial public
offering, (ii) stock - based compensation expense
of approximately $ 1.1 billion associated with outstanding RSUs subject to a performance condition for which the service - based vesting condition was satisfied as
of December 31, 2016 and which we will recognize on the effectiveness
of our registration statement in connection with this
offering, as further described in
Note 1 to our consolidated financial statements included elsewhere in this prospectus, (iii) the increase in accrued expenses and other current liabilities and an equivalent decrease in additional paid - in capital
of $ 187.2 million in connection with the withholding tax obligations, based on $ 16.33 per share, which is the fair value
of our common stock as
of December 31, 2016, as we intend to issue shares
of Class A common stock and Class B common stock on a net basis to satisfy the associated withholding tax obligations, (iv) the net issuance
of 7.6 million shares
of Class A common stock and 5.5 million shares
of Class B common stock that will vest and be issued from the settlement
of such RSUs, (v) the issuance
of the CEO award, as described below, and (vi) the filing and effectiveness
of our amended and restated certificate
of incorporation which will be in effect on the completion
of this
offering.
The pro forma stockholders» equity presents our stockholders» equity as though all
of the
convertible preferred stock outstanding automatically converted into shares
of common stock on a 1 for 1 basis, except for the Series C
convertible preferred stock which is
convertible on a 1 for 1.05 basis (see
Note 6), upon completion
of a qualifying initial public
offering.
We anticipate that, after consummation
of the transactions contemplated by the 2014 Recapitalization and upon the closing
of this
offering, only the Post-IPO
Note, and none
of the Related - Party
Notes or the Related - Party Warrants, would remain outstanding, and all
of our issued and outstanding shares
of convertible preferred stock and common stock
of various classes would be converted into shares
of common stock.
We anticipate that, after consummation
of the transactions contemplated by the 2014 Recapitalization Agreement and upon the closing
of this
offering, only the Post-IPO
Note, and none
of the Related - Party
Notes or the Related - Party Warrants, would remain outstanding, and all
of our outstanding shares
of convertible preferred stock and common stock
of various classes would be converted into shares
of common stock.
We anticipate that, after consummation
of the transactions contemplated by the 2014 Recapitalization Agreement and upon the closing
of this
offering, only the Post-IPO
Note, and none
of the Related - Party
Notes or the Related - Party Warrants, would remain outstanding, and all
of our issued and outstanding shares
of convertible preferred stock and common stock
of various classes would be converted into shares
of common stock.
September 19, 2017 - Marriott Vacations Worldwide Corporation (NYSE: VAC)(the «Company») announced today that it intends to
offer, subject to market and other conditions, $ 200 million aggregate principal amount
of convertible senior
notes due 2022 (the «
notes») in a private
offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act
of 1933, as amended (the «Securities Act»).
Pure Storage Inc. (NYSE: PSTG) recently announced plans
of offering $ 450 million
of convertible senior
notes in a private placement.
It can be difficult for new investors to establish whether the terms
of a particular
note offering are fair, driving some away from deals financed with
convertible notes.
MG TF 1.6 Cool Blue Sports 2dr
Convertible, Screen Price Includes Parts & Labour Warranty, FINANCE AVAILABLE FROM 9.9 % Apr, LIFETIME WARRANTYS AVAILABLE FROM # 199 ** THIS CAR QUALIFIES FOR OUR TOTAL CARE PACK ** All Our Vehicles Are HPI Checked ** SPECIAL
OFFER ** WILLIAMS Synthetic Paint Protection Only # 100 When Purchased With a 12 Month Warranty ** As We Are Part
Of AA Cars This Vehicle Comes With a Full AA History Check & 12 Months AA Breakdown Cover.PLEASE
NOTE: Please Call Before Travelling As The Vehicle You Are Looking At May Be At Our Other SiteHaving trouble Getting To Us?
Davis Polk acted as special product counsel to the representatives
of the initial purchasers in connection with a Rule 144A
offering by Five9, Inc.
of an aggregate principal amount
of $ 258.75 million
of its 0.125 %
convertible senior
notes due 2023.
Attorneys from our Corporate Transactions & Securities and Tax practice groups advised Forest City in a $ 300 million Rule 144A
offering of convertible senior
notes due 2020, its third Rule 144A
offering in four years.
Ni represents clients in a variety
of offerings, including primary and secondary equity,
convertible notes, investment - grade and high - yield debt, and hybrid securities.
We also advise clients on the full range
of equity and debt securities transactions, including eurobond
offerings by corporations and sovereigns, medium - term
note programs, high - yield debt
offerings,
convertible and exchangeable bond
offerings, initial public
offerings (IPOs), global depositary receipt (GDR) and American depositary receipt (ADR) programs, and
offerings of Sukuk (Islamic bonds).
(On a side
note, it is interesting that one
of the more popular searches regarding cancellation is how to cancel Primerica life insurance, a company that does not
offer convertible term life insurance.)
The
Note 8 is now available in stores, and there's a variety
of order
offers to entice you: either a free Gear 360 camera (valued at $ 229.99) or a 128 GB Samsung EVO + memory card and Fast Wireless Charging
Convertible (valued at $ 189.99).
If the
offering is consummated, all
of Realogy's
Convertible Notes in the aggregate principal amount
of approximately $ 2.1 billion would be converted into Class A common stock or redeemed at 90 percent
of the principal amount thereof on or about the closing
of the
offering, and holders
of approximately $ 2 billion aggregate principal amount
of such
Convertible Notes have indicated that they intend to so convert.
If the
offering is consummated with net proceeds
of $ 1 billion and at least $ 2 billion aggregate principal amount
of the
Convertible Notes are converted into Class A common stock, the company expects its overall indebtedness would be reduced by approximately $ 3 billion.