4 months ago
SAN FRANCISCO–(BUSINESS WIRE)–Zynga Inc. (Nasdaq: ZNGA), a global leader in interactive entertainment, today announced the pricing of $762 million aggregate principal amount of 0% convertible senior notes due 2026 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Zynga also granted the initial purchasers of the notes a 13-day option to purchase up to an additional $112.5 million aggregate principal amount of the notes. The sale of the notes is expected to close on December 17, 2020, subject to customary closing conditions.
The notes will be senior unsecured obligations of Zynga, will not bear regular interest, and the principal amount of the notes will not accrete. The notes will mature on December 15, 2026, unless earlier converted, repurchased or redeemed. The initial conversion rate will be 76.5404 shares of Zyng
4 months ago
SAN FRANCISCO–(BUSINESS WIRE)–$ZNGA#Zynga–Zynga Inc. (Nasdaq: ZNGA), a global leader in interactive entertainment, today announced that it intends to offer, subject to market conditions and other factors, $750 million aggregate principal amount of convertible senior notes due 2026 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Zynga also intends to grant the initial purchasers of the notes a 13-day option to purchase up to an additional $112.5 million aggregate principal amount of the notes.
The notes will be senior unsecured obligations of Zynga and will accrue interest payable semiannually in arrears. The notes will be convertible into cash, shares of Zynga’s Class A common stock (“common stock”) or a combination of cash and shares of Zynga’s common stock, at Zynga’s election. The interest rate, ini