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RealPage offers $300 million convertible senior notes due 2022
By Stephanie N. Rotondo
Seattle, May 16 – RealPage Inc. intends to price a $300 million Rule 144A offering of convertible senior notes due Nov. 15, 2022, the company said in a press release on Tuesday.
Price talk was unavailable as of press time.
There is a $45 million over-allotment option.
Conversions will be settled in cash, common stock or both, at the company’s option. The issue will be contingently convertible prior to May 15, 2022, or at any time after that date.
The company will enter into convertible note hedge transactions with one or more initial purchasers and/or their affiliates. The company also expects to enter into warrant transactions with options counterparties.
A portion of the deal’s proceeds will go toward the hedging transactions. The remaining funds will be used for general corporate purposes, which may include future acquisitions.
RealPage is a Richardson, Texas-based provider of software and data analytics to the real estate industry.
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