Procore Technologies Intends To Offer $750M Of Convertible Senior Notes Due 2031 In Private Placement
Procore also intends to grant the initial purchasers of the notes an option to purchase, during a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $112.5
Procore is borrowing $750 million by selling special bonds that can turn into stock later. When a company borrows money this way, it shows they need cash for something important—watch to see what they announce they'll spend it on.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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