Box Prices Offering Of $400 Mln Of Senior Notes

(RTTNews) - Box, Inc. (BOX), a cloud storage company, said on Wednesday that it has priced a private offering of $400 million of 1.50 percent convertible senior notes due 2029.

The company expects to use the proceeds from the offering  to pay the cost of the capped call transactions, repurchase of  its convertible senior notes due 2026, and for working capital and other general corporate purposes.

Box has also granted the initial purchasers an option to purchase up to an additional $60 million of notes.

The net proceeds from the offering are expected to be around $389.2 million, or $447.8 million, if the initial purchasers exercise their option to purchase additional notes in full.

The sale of the notes is expected to be closed on September 20.