MongoDB to redeem $1.88 million outstanding 0.75% convertibles

By Wendy Van Sickle

Columbus, Ohio, Oct. 1 – MongoDB Inc. will redeem all $1,875,000 of its outstanding 0.75% convertible senior notes due 2024 on Dec. 3, according to a news release.

The redemption price will be par plus accrued interest.

The notes are convertible until 5 p.m. ET on Dec. 2. The conversion rate is equal to 14.6738 shares of class A common stock of MongoDB per $1,000 principal amount of notes. Cash will be paid in lieu of fractional shares.

MongoDB is a New York-based document-oriented database program.

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