Workiva Announces Proposed Private Offering of $300 Million of Convertible Senior Notes
12 August 2019 - 10:21PM
Business Wire
Workiva Inc. (NYSE: WK) today announced that it plans to offer,
subject to market and other conditions, $300 million principal
amount of its Convertible Senior Notes due 2026 (the “notes”)
through a private offering to qualified institutional buyers
pursuant to Rule 144A under the Securities Act of 1933, as amended.
Workiva expects to grant the initial purchasers a 13-day option,
beginning on, and including, the date the notes are issued, to
purchase up to an additional $45 million principal amount of
notes.
The notes will be senior unsecured obligations of Workiva, and
interest will be payable semi-annually in arrears on February 15
and August 15 of each year, beginning on February 15, 2020. In
certain circumstances and during certain periods, the notes may be
converted into cash, shares of Workiva’s Class A common stock (the
“common stock”), or a combination of cash and shares of common
stock, at Workiva’s election.
Workiva intends to use the net proceeds from the offering of the
notes for working capital and other general corporate purposes, as
well as the acquisition of, or investment in, complementary
products, technologies, assets, solutions or businesses, although
Workiva has no commitments or agreements to enter into such
transactions.
The notes and the shares of common stock issuable upon
conversion of the notes have not been, and will not be, registered
under the Securities Act of 1933, as amended, or under any state
securities laws, and may not be offered or sold in the United
States without registration under, or an applicable exemption from,
the registration requirements. This announcement does not
constitute an offer to sell, nor is it a solicitation of an offer
to buy, these securities, nor shall there be any sale of these
securities in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any state or any
jurisdiction.
About Workiva
Workiva, the leading provider of connected reporting and
compliance solutions, is used by thousands of enterprises across
180 countries, including more than 75 percent of Fortune 500®
companies, and by government agencies. Our customers have linked
over five billion data elements to trust their data, reduce risk
and save time. For more information about Workiva (NYSE:WK), please
visit workiva.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190812005587/en/
Investor Contact: Eileen Gannon Workiva Inc. (515) 663-4493
investor@workiva.com Media Contact: Kevin McCarthy Workiva Inc.
(515) 663-4471 press@workiva.com
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