MongoDB Inc.
10/16/2024 | Press release | Distributed by Public on 10/16/2024 15:19
Material Event Form 8 K
Item 8.01 Other Events.
On October 16, 2024, MongoDB, Inc. (the "Company"), issued a notice of redemption (the "Redemption Notice") for all $1,149,972,000 aggregate principal amount outstanding of its 0.25% Convertible Senior Notes due 2026 (the "Notes"), which were issued pursuant to an Indenture dated as of January 14, 2020 (the "Indenture"), between the Company and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank National Association), as Trustee. Pursuant to the Redemption Notice, on December 16, 2024 (the "Redemption Date"), the Company will redeem all Notes that have not been converted prior to such date at a redemption price in cash equal to 100% of the principal amount of such Notes, plus accrued and unpaid interest, from July 15, 2024 to, but excluding, the Redemption Date (the "Redemption Price"). On the Redemption Date, the Redemption Price will become due and payable upon each Note to be redeemed and interest thereon will cease to accrue on and after the Redemption Date.
The Notes called for redemption may be converted by holders at any time before 5:00 p.m. (New York City time) on December 13, 2024 (the "Conversion Deadline"). The Conversion Rate for Notes converted after the date of the Redemption Notice and prior to the Conversion Deadline will be equal to 4.9260 shares of Common Stock of the Company, par value $0.001 per share (the "Common Stock"), per $1,000 principal amount of the Notes, which includes an increase to the conversion rate of 0.1911 additional shares of Common Stock per $1,000 principal amount of the Notes as a result of the Notes being called for redemption. The conversion rate is subject to adjustment under certain circumstances as set forth in the Indenture. The Company has elected to settle any conversions occurring after the date of the Redemption Notice and prior to the Conversion Deadline by delivering Common Stock, plus cash in lieu of any resulting fractional shares (physical settlement).