The Waterloo, Ont.-based software company said it’s raising US$160 million in convertible senior notes as part of a private offering to clear previous debt obligations. The new notes would mature in 2029. (The Logic)
Skip to content
The Waterloo, Ont.-based software company said it’s raising US$160 million in convertible senior notes as part of a private offering to clear previous debt obligations. The new notes would mature in 2029. (The Logic)
Talking point: The funds would be used to repay US$150 million in outstanding debentures due Feb 15. The company’s future is already in flux, after it ditched plans to take its Internet-of-Things division public. New CEO John Giamatteo said in his first earnings call at the helm last month that the company was cutting costs, and gave a conservative revenue forecast. RBC analyst Paul Treiber wrote in a note that the convertible notes may “help alleviate near-term financing concerns,” but noted that additional terms on them have yet to be determined.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
Canada’s Arctic defence push is overwhelming communities in the North
Briefing
Stellantis goes ahead with sale of Ontario auto plant to defence company Roshel
Nvidia sheds billions in value amid probe of Huang’s affair with suspected Chinese spy
PSP Investments to buy 50% of Brookfield’s Enercare for $1.6B
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
