Compass, Inc. intends to offer $750.0 million in aggregate principal amount of convertible senior notes due 2031 in a private offering.
The net proceeds will be used for general corporate purposes, including the repayment of certain existing indebtedness related to the merger with Anywhere Real Estate Inc.
The Notes will be senior unsecured obligations jointly guaranteed by Compass, Inc.'s subsidiaries.
Offering Details
Compass, Inc. plans to offer $750 million in convertible senior notes due 2031 in a private offering, with an option for additional purchase of $112.5 million within 13 days.
Use of Proceeds
Proceeds will be used for general corporate purposes, including repayment of debts related to the Anywhere Real Estate Inc. merger.
Capped Call Transactions
The Company expects to enter into capped call transactions to offset potential dilution to its Class A common stock upon conversion of the Notes.
- The Offering will provide Compass, Inc. with substantial capital to support its business operations and strategic initiatives.
- The proposed merger with Anywhere Real Estate Inc. can proceed smoothly with the funding secured through the Notes offering.
Compass, Inc.'s proposed offering of convertible senior notes demonstrates its proactive approach to capital management and strategic growth initiatives.