Q2 Holdings plans to buy back convertibles from two series

By Mary-Katherine Stinson

Lexington, Ky., March 8 – Q2 Holdings, Inc. plans to repurchase convertibles from two series after having entered into repurchase agreements on March 7 with certain holders of the notes, according to an 8-K filed with the Securities and Exchange Commission.

The company will buy back $159 million total principal amount of its 0.125% convertible senior notes due 2025 for a total cash purchase price of $138.4 million and $12.3 million of its 0.75% convertible senior notes due 2026 for a total cash purchase price of $10.7 million.

The privately negotiated transactions are expected to settle on March 13, subject to customary closing conditions.

Following the settlement of the repurchases, $191 million principal amount of the 2025 notes and $304 million principal amount of the 2026 notes will remain outstanding with terms unchanged.

Q2 Holdings is an Austin, Tex.-based digital banking platform.

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