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Affirm stock drops after BNPL company announces plans for convertible offering

Published Nov 18 2021 at 12:28 PM GMT
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Points
  • Affirm Holdings Inc said Thursday that it intends to offer $1.25 billion in convertible notes.
  • The company plans to use the proceeds for general corporate purposes and to help fund future growth initiatives.
  • The notes would be due in 2026 and Affirm anticipates that it will grant initial purchasers the option to buy up to an additional $187.5 million of notes on the same terms within a 13-day period starting when the notes get first issued.
  • Shares of Affirm are off 4 4% in premarket trading Thursday.
  • The buy-now pay-later company's stock has rocketed 135% over the past three months as the S&P 500 has risen about 7%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move.




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  • Published Nov 18, 2021 12:28 PM GMT