Box Inc. Raises $460 Million Through Convertible Notes Sale

The latest update is out from Box ( (BOX) ).

Box, Inc. has struck a deal to sell $400 million in 1.50% Convertible Senior Notes due 2029, with an option for initial purchasers to buy an additional $60 million. This option was fully exercised, raising the total to $460 million. The notes, maturing in September 2029 unless converted or repurchased earlier, bear semi-annual interest and can be converted into cash or shares. Box plans to use the proceeds for corporate purposes, including repurchasing debt and potential acquisitions, while also entering into capped call transactions to minimize dilution from the conversion of notes.

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