Rapid7 will redeem its $45.35 million 1.25% convertibles due 2023

By Wendy Van Sickle

Columbus, Ohio, Sept. 16 – Rapid7 Inc. will redeem its $45,352,000 of outstanding 1.25% convertible senior notes due 2023, according to an 8-K filing with the Securities and Exchange Commission.

The redemption price will be par plus accrued interest to the redemption date of Nov. 30.

The convertibles may be converted by holders any time before 5 p.m. ET on Nov. 29 at a conversion rate of 24.0482 shares per $1,000 principal amount. The company said it will settle conversions in a combination of cash and shares.

The convertibles were issued under an indenture dated Aug. 13, 2018.

Rapid7’s common shares closed at $122.07 on Thursday.

Rapid7 is a Boston-based cybersecurity company.

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