Wix.com Ltd. announced the pricing of $1.0 billion in Convertible Senior Notes due 2030, upsized from $750.0 million. The Notes will not bear regular interest and will mature on September 15, 2030. Holders can require Wix to repurchase the Notes upon a fundamental change. The initial conversion rate for the Notes is 4.7509 ordinary shares of Wix per $1,000 principal amount. The net proceeds from the Offering will be approximately $977.3 million. Wix intends to use the proceeds for capped call transactions, share repurchases, and general corporate purposes, including acquisitions. The Notes were offered to qualified institutional buyers under Rule 144A.

Read more at GlobeNewswire: Wix Announces Pricing of Upsized Private Offering of $1.0