PagerDuty falls on convertible debt deal plans

PagerDuty

09/10/2023 21:22

** PagerDuty Inc's  PD.N  stock drops 8.5% to $19.97
post-market as software firm looks to raise capital
    ** Co says offering privately $350 mln convertible bonds
(CBs) due 2028
    ** It expects to use portion of net offering proceeds to pay
cost of capped call transactions, and to repurchase certain of
its 1.25% CBs due 2025
    ** PD's stock on Mon fell 0.2% to $21.83 and has roughly $2
bln market cap, per LSEG data
    ** YTD, shares down ~18% YTD and well off their 2023
intraday high of $35.33 hit on Mar 31

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))