Affirm to buy back $70 million more 0% convertibles due 2026

By Wendy Van Sickle

Columbus, Ohio, March 7 – Affirm Holdings Inc. entered an additional privately negotiated transaction on March 6 with a holder of its outstanding 0% convertible senior notes due 2026 to repurchase more notes, according to an 8-K filing with the Securities and Exchange Commission.

According to the negotiated terms, Affirm will pay a total of about $48 million in cash to repurchase approximately $70 million in principal of the 2026 notes.

Affirm negotiated transactions with some holders to pay a total of about $158 million in cash to repurchase approximately $229 million in principal of the 2026 notes on Feb. 14, as previously reported. The holder of the notes under the newly negotiated transaction also participated in that transaction, the company said.

Settlement of the latest repurchase is expected on or about March 8, and the repurchased notes will be canceled.

The company will not receive any cash proceeds.

Following the buybacks, about $1.43 billion will remain outstanding with unchanged terms.

Affirm is a financial technology company based in San Francisco.

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