Affirm authorized to buy back up to $800 million of 0% convertibles

Chicago, June 8 – Affirm Holdings Inc. received board approval to buy back up to $800 million of its 0% convertible senior notes due 2026, according to an 8-K filing with the Securities and Exchange Commission.

The company may repurchase the notes through Dec. 31, 2023 in privately negotiated transactions.

Repurchases by the company are subject to available liquidity, general market and economic conditions, alternate uses for the capital, and other factors, and there is no minimum principal amount of 2026 notes that the company is obligated to repurchase.

If the company manages to repurchase the entire $800 million of notes, there would be $626 million of the notes outstanding.

Affirm is a financial technology company based in San Francisco.

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