Progress Software Announces Upsize and Pricing of Convertible Senior Notes Offering.

Progress Software Corp announced a $400M private offering of 3.5% Convertible Senior Notes due 2030, with an option for initial purchasers to buy an additional $50M. The company plans to use proceeds for repaying term loan credit facility, capped call transactions, repurchasing shares, and general corporate purposes. The Notes mature on March 1, 2030, with semi-annual interest payments and conversion rights.

February 28, 2024
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