Affirm sells additional $225 million of convertibles via greenshoe

Chicago, Nov. 23 – The initial purchasers of Affirm Holdings Inc.’s 0% five-year convertible notes fully exercised their over-allotment option for an additional $225 million of notes, according to an 8-K filed with the Securities and Exchange Commission.

The additional notes bring the total issue size up to $1,725,000,000.

As initially reported, the convertibles have a 55% initial conversion premium, and the company priced an original $1.5 billion of the bonds on Nov. 18.

Morgan Stanley & Co. LLC (lead left) and J.P. Morgan Securities LLC were bookrunners for the Rule 144A offering.

The initial size of the offering was $1.25 billion with a greenshoe of $187.5 million, before the deal was upsized.

Proceeds will be used for general corporate purposes.

Affirm Holdings is a San Francisco-based financial technology company.

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