Unity falls on $500 million convertible bond offering plan

Unity Software

24/02/2025 12:42

** Shares of videogame software provider Unity Software
 U.N  fall 6.8% to $26.41 premarket
    ** U plans to offer $500 million of convertible bonds, due
2030, in a private placement 
    ** Co plans to use proceeds along with cash on hand to
repurchase $500 million of its convertible bonds, due 2026,
among other purposes
    ** U has 409.7 million outstanding shares and a market value
of $11.6 billion, according to data compiled by LSEG
    ** Unsecured bonds, which have a maturity of five years,
will pay interest semiannually
    ** U shares have jumped 26.1% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))