Affirm to buy back $229 million of 0% convertibles on Feb. 21

By Mary-Katherine Stinson

Lexington, Ky., Feb. 15 – Affirm Holdings Inc. entered separate privately negotiated transactions on Feb. 14 with certain holders of its outstanding 0% convertible senior notes due 2026, according to an 8-K filing with the Securities and Exchange Commission.

According to the negotiated terms, Affirm will pay a total of about $158 million in cash to repurchase approximately $229 million in principal of the 2026 notes.

Settlement is expected on or about Feb. 21, and the repurchased notes will be canceled.

The company won’t receive any cash proceeds.

Following the buybacks, about $1.5 billion will remain outstanding with unchanged terms.

Affirm is a financial technology company based in San Francisco.

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