Wix Results Presentation Deck
Additional Items
Convertible notes issuance
On June 21, we issued $385 million of 0% Convertible Senior Notes due 2023.
The Notes will not bear regular interest, and the principal amount of the Notes
will not accrete. In connection with this issuance, we also entered into privately
negotiated capped call transactions. These capped call transactions are
expected to reduce the potential dilution to the ordinary shares of Wix upon any
conversion of Notes. The cap price of the capped call transactions will initially be
$211.30 per share, which represents a premium of 100% over the last reported
sale price of the ordinary shares of Wix of $105.65 per share on June 21, 2018.
Net proceeds from the issuance of the Notes in the second quarter were $335
million after deducting fees and expenses associated with the offering and the
cost of the capped call transactions. Our financial statements for the second
quarter ending June 30 reflect these transactions.
On July 3, the initial purchases of the Notes exercised their over-allotment option
in full to purchase an additional $57.75 million in aggregate principal amount of
the Notes. Our net proceeds from this additional issuance was $50 million, after
deducting fees and expenses associated with the offering and the cost of the
capped call transactions. These transactions will appear on our third quarter
financial statements ending September 30.
In aggregate, we issued $443.8 million of 0% Convertible Senior Notes due 2023
and total net proceeds to us were $385.9 million.
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