OpenText cuts tender offer size, extends deadlines for 2028 notes

OpenText Corporation (NASDAQ: OTEX, TSX: OTEX) has amended the terms of its previously announced cash tender offer for a portion of its outstanding 3.875% Senior Notes due 2028, according to a company statement.

The company reduced the aggregate maximum tender amount from $450 million to $300 million in principal. The Withdrawal Deadline, Price Determination Date, and Expiration Date were each extended by one day to 5:00 p.m. and 3:00 p.m. New York City time, respectively, on September 30, 2026, from the original date of September 29, 2026. The expected Settlement Date remains October 2, 2026.

OpenText said it intends to fund the tender offer using cash on hand along with proceeds from a previously announced concurrent senior secured notes offering. All other terms and conditions of the tender offer remain unchanged.

RBC Capital Markets, LLC and Citigroup Global Markets Inc. are serving as Dealer Managers for the tender offer. Global Bondholder Services Corporation has been retained as Tender and Information Agent.

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