Compass, Inc. announced the pricing of its offering of $850.0 million in aggregate principal amount of convertible senior notes due 2031.
The offering represents a $100.0 million increase from the previously announced size.
The company also granted initial purchasers an option to purchase up to an additional $150.0 million aggregate principal amount of the Notes.
Offering Upsize
$100.0 million increase from the previously announced size of the offering.
Use of Proceeds
Intended for general corporate purposes, including repayment of existing indebtedness and funding of capped call transactions.
Interest Rate
Notes will bear interest at the rate of 0.25% per annum.
Conversion Premium
Initial conversion rate represents an approximately 35.0% conversion premium over the last reported sale price of the Company's Class A common stock.
- The company's offering reflects confidence in its growth prospects and access to capital markets.
- The capped call transactions provide risk mitigation and potential upside for the Company and investors.
Compass, Inc.'s successful upsizing and pricing of the convertible senior notes demonstrate investor interest and confidence in its future prospects.