Shares of Netflix (NFLX) Whacked Following Convertible Notes Offering
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Netflix (Nasdaq: NFLX) shares are down about 7 percent Monday afternoon following news of a $200 million convertible notes offering.
The offering is being made in conjunction with a Note Purchase Agreement with funds affiliated with Technology Crossover Ventures, or TCV, related to the proposed issuance of $200.0 million aggregate principal amount of Zero Coupon Convertible Subordinated Notes due 2018. The announcement was made earlier in an 8-K.
The stock last traded at $68.80.
The offering is being made in conjunction with a Note Purchase Agreement with funds affiliated with Technology Crossover Ventures, or TCV, related to the proposed issuance of $200.0 million aggregate principal amount of Zero Coupon Convertible Subordinated Notes due 2018. The announcement was made earlier in an 8-K.
The stock last traded at $68.80.
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