HubSpot exchanges about $272 million of 0.25% convertibles due 2022

By Rebecca Melvin

New York, June 2 – HubSpot, Inc. has entered into individually negotiated transactions with holders of its 0.25% convertible senior notes due 2022 to exchange about $272.1 million of the notes for $283 million in cash and 1.6 million common shares, according to a news release issued on Tuesday.

The exchange occurred at the same time the issuer priced $400 million of new 0.375% convertible notes due 2025.The deal has a $60 million greenshoe. About $283 million of the proceeds of the new convertibles were used for the exchange transactions.

HubSpot is a Cambridge, Mass.-based software company.

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