TechTarget eyes repurchase or exchange of 2025 convertibles

By Wendy Van Sickle

Columbus, Ohio, Dec. 7 – TechTarget, Inc. plans to use some proceeds of an offering of $360 million of convertible senior notes due 2026 to enter into privately negotiated transactions with some holders of its 0.125% convertibles due 2025 to repurchase or exchange a portion of the existing notes for cash, shares of common stock or a combination of cash and shares of its common stock, according to a news release.

Completion of the offering is not contingent upon the closing of any repurchase or exchange of the existing notes.

Additional proceeds would be used for general corporate purposes.

TechTarget is a Newton, Mass.-based marketing and sales and service provider for tech companies.

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