The Capital Markets team advised the initial purchasers on Radius Global Infrastructure, Inc.’s Rule 144A offering of 2.50% Convertible Senior Notes due 2026. The $264.5 million offering includes the full exercise of the initial purchasers’ option to purchase $34.5 million in additional notes. The initial conversion price of the notes features a premium of approximately 30% up from the reference price of $17.40 per share. In connection with the offering, Radius and certain investment bank dealers entered into capped call transactions, which mitigate equity dilution and/or offset payments due upon conversion of the notes and effectively raise the conversion price of the notes to $34.80 per share, a 100% premium over the reference price.
Radius Global Infrastructure, Inc., (Nasdaq: RADI) through its subsidiary AP WIP Investments, LLC, is a multinational owner of a portfolio of primarily triple net rental streams from wireless operators and tower companies for properties underlying their mission critical digital infrastructure.
Goodwin’s product team consisted of Jim Barri, John Servidio, Kim De Glossop. Goodwin’s corporate team consisted of Christopher Versfelt, Christiana Deily and Jessica Park. Daniel Karelitz and Garrett Gaughan provided tax advice.
For more information, read Radius Global Infrastructure’s pricing press releasefor the offering.