Benefitfocus Announces Pricing of $200 Million Convertible Notes Offering
Benefitfocus, Inc. (BNFT)
Last benefitfocus, inc. earnings: 3/3 04:05 pm
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US:NASDAQ Investor Relations:
investor.benefitfocus.com
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Source: GlobeNewswire
CHARLESTON, S.C., Dec. 20, 2018 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform and services provider, today announced the pricing of $200 million aggregate principal amount of 1.25% convertible senior notes due 2023 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Act”). Benefitfocus also granted the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $40 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to settle on December 27, 2018, subject to customary closing conditions, and is expected to result in approximately $194.6 million in net proceeds to Benefitfocus after deducting the initial purchasers’ discount and estimated offering expenses payable by
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