MercadoLibre to redeem 2.00% convertible senior notes due 2028 in November, 2023
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MercadoLibre (NASDAQ:MELI) is set to redeem its outstanding $439.075M of 2.00% convertible senior notes due 2028 on November 14, 2023.
Alternatively, holders can convert their notes before 5 p.m. New York City time on November 13, 2023.
Each $1,000 principal amount of notes is converted into 2.2952 shares of MercadoLibre common stock, resulting in an increase of 0.0399 additional shares per $1,000 principal amount of notes.
Except for fractional shares that would otherwise be deliverable, the company will pay conversions entirely in common stock utilizing treasury shares previously bought in the open market or obtained upon settlement of other instruments.
The redemption price for unconverted notes will be 100% of the redeemed notes' principal amount plus accrued and unpaid interest up to the redemption date.
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