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Informa TechTarget Announces Final Results of Offers to Purchase Any and All of Informa TechTargets’s Outstanding 0.125% Convertible Senior Notes due 2025 and 0.000% Convertible Senior Notes due 2026
NEWTON, Mass.--(BUSINESS WIRE)-- TechTarget, Inc. (Nasdaq: TTGT) (“Informa TechTarget”) today announced the expiration and final results of its previously
About this update from Techtarget, Inc.
[{"type":"text","content":" NEWTON, Mass.--(BUSINESS WIRE)--\nTechTarget, Inc. (Nasdaq: TTGT) (“Informa TechTarget”) today announced the expiration and final results of its previously announced offers to purchase (each, an “Offer” and together the “Offers”) any and all of Informa TechTarget’s outstanding 0.125% Convertible Senior Notes due 2025 (the “2025 Notes”) and 0.000% Convertible Senior Notes due 2026 (the “2026 Notes” and, together with the 2025 Notes, the “Notes”). The Offers expired at 5:00 p.m., New York City time, on January 23, 2025.\n\n\nThe Offers were required to be made as a result of the transactions consummated on December 2, 2024 (the “Closing Date”) pursuant to the Agreement and Plan of Merger, dated as of January 10, 2024, among TechTarget Holdings Inc. (formerly known as TechTarget, Inc.), Informa TechTarget, Toro Acquisition Sub, LLC, Informa PLC, Informa US Holdings Limited, and Informa Intrepid Holdings Inc. (the “Transactions”). Under the terms of the indentures governing the Notes (the “Indentures”), the Transactions constituted a Fundamental Change (as defined in each of the Indentures), and Informa TechTarget was required to offer to repurchase the Notes for cash at a purchase price equal to 100% of the aggregate principal amount of the Notes to be repurchased, plus, in the case of the 2025 Notes, accrued and unpaid interest on the 2025 Notes to, but excluding, January 24, 2025.\n\n\nAs of the expiration time (a) $3,040,000 aggregate principal amount of the 2025 Notes, representing 100% of the 2025 Notes outstanding, and (b) $413,993,000 aggregate principal amount of the 2026 Notes, representing approximately 99.9% of the 2026 Notes outstanding, were validly tendered (and not validly withdrawn) pursuant to the applicable Offer. Informa TechTarget has accepted for repurchase all Notes that were validly tendered (and not validly withdrawn) prior to the expiration time. All 2026 Notes not tendered for purchase will remain outstanding.\n\n\nIn addition, during the period in which the Offers were open, holders of Notes were entitled to convert their Notes in whole or in part (in a principal amount of $1,000 or an integral multiple thereof) at the applicable conversion rate. During such period, no Notes were surrendered for conversion.\n\n\nInforma TechTarget expects to pay in cash approximately $3,040,412 for the repurchase of the ...