Twilio Inc. Announces Redemption of All of Its Outstanding Convertible Senior Notes
May 18 2021 - 4:15PM
Business Wire
Twilio Inc. (NYSE: TWLO) today announced that it issued a notice
of redemption for all $135,839,000 of its outstanding 0.25%
convertible senior notes due 2023 (the “notes”). The redemption
date shall take place on June 2, 2021. The redemption price with
respect to any redeemed note shall equal 100% of the principal
amount thereof plus accrued and unpaid interest thereon from June
1, 2021 to, but excluding the date that Twilio pays such redemption
price in full.
The notes may be converted by holders at any time before 5 p.m.
(New York City time) on June 1, 2021. Each $1,000 principal amount
of the notes is convertible into 14.1040 shares of class A common
stock of Twilio, plus cash in lieu of any resulting fractional
shares.
As of March 31, 2021, Twilio had cash and cash equivalents of
approximately $2.3 billion and marketable securities of
approximately $3.4 billion. In addition, the total principal amount
of debt outstanding as of March 31, 2021 was approximately $1.14
billion, , consisting of $500 million principal amount of Twilio’s
3.625% notes due 2029 (the “2029 notes”), $500 million principal
amount of Twilio’s 3.875% notes due 2031 (the “2031 notes”) and
$135,839,000 of the notes. Following the redemption of the
convertible senior notes, the total principal amount of debt
outstanding will be $1 billion, consisting entirely of the 2029
notes and the 2031 notes.
About Twilio
Millions of developers around the world have used Twilio to
unlock the magic of communications to improve any human experience.
Twilio has democratized communications channels like voice, text,
chat, video, and email by virtualizing the world’s communications
infrastructure through APIs that are simple enough for any
developer to use, yet robust enough to power the world’s most
demanding applications. By making communications a part of every
software developer’s toolkit, Twilio is enabling innovators across
every industry — from emerging leaders to the world’s largest
organizations — to reinvent how companies engage with their
customers.
Forward Looking Statements
This press release contains forward-looking statements,
including, but not limited to, statements related to the planned
redemption of the notes and the impact on Twilio’s debt levels.
These forward-looking statements are based on Twilio’s current
expectations and inherently involve significant risks and
uncertainties. Actual results and the timing of events could differ
materially from those anticipated in such forward looking
statements as a result of these risks and uncertainties, which
include, without limitation, risks associated with executing the
redemption of the senior notes and events that could impact the
terms of the redemption, as well as those described in Twilio’s
filings with the United States Securities and Exchange Commission,
including those factors discussed under the caption “Risk Factors”
in those filings. Forward-looking statements speak only as of the
date of this press release and Twilio does not undertake any
obligation to update or revise these statements, except as may be
required by law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210518005346/en/
Investor Contact: Andrew Zilli ir@twilio.com
or
Media Contact: Carolyn Bos press@twilio.com
Twilio (NYSE:TWLO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Twilio (NYSE:TWLO)
Historical Stock Chart
From Apr 2023 to Apr 2024