Goodwin’s Capital Markets team advised the initial purchasers on Box’s Rule 144A offering of 1.50% Convertible Senior Notes due 2029. The $460 million offering included the full exercise of the initial purchasers’ option to purchase $60 million in additional notes. In addition, Goodwin advised certain investment bank dealers that entered into capped call transactions with Box in connection with the offering to mitigate Box’s equity dilution or offset payments due upon conversion of the notes. Additionally, Box used a portion of the net proceeds from the offering to repurchase approximately $140.0 million principal amount of its 0% Convertible Senior Notes due 2026.
Box (NYSE: BOX) is the Intelligent Content Cloud, a single platform that enables organizations to fuel collaboration, manage the entire content lifecycle, secure critical content, and transform business workflows with enterprise AI.
Goodwin’s product team consisted of Jim Barri, John Servidio, Kim de Glossop, and Tom Underwood. The corporate team consisted of Bradley Weber, Bryan Quinn, Justin Anslow, and Haley Schubert-Nieh. The regulatory and specialist teams consisted of Kevin Lam, Patrick Park, and Lizzy Song (IP); Jacqueline Klosek and Jonathan Ng (Privacy); Dan Karelitz and Garrett Gaughan (Tax); and Jacob Osborn and Richard Matheny (Global Trade).
For more information, please see Box’s pricing press release for the offering.