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Co-Manager

Everbridge, Inc.

$325 Million 03/09/2021 Technology, Media & Telecom Complete
Public Companies
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Transaction Details

  • On March 9, 2021, Everbridge, Inc. (“Everbridge” or the “Company”) announced the upsizing and pricing of $325.0 million aggregate principal amount of 0% Convertible Senior Notes due 2026 (the “Notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended
  • The Company also granted the initial purchasers a 13-day option to purchase up to an additional $50.0 million aggregate principal amount of the Notes
  • The initial conversion rate for the Notes is 5.5341 shares of Everbridge common stock per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $180.70 per share of common stock, representing a premium of approximately 40% over the last reported sale price of Everbridge’s common stock on March 8, 2021)
  • The Company expects to use a portion of the net proceeds from the Notes offering to repurchase a portion of its outstanding 1.50% Convertible Senior Notes due 2022 in privately negotiated transactions concurrently with the offering of the Notes, and to pay the cost of capped call transactions
  • Everbridge expects to use the remainder of any net proceeds for working capital and other general corporate purposes

About the company

Everbridge, Inc. (Nasdaq: EVBG) is a global software company that provides enterprise software applications that automate and accelerate organizations’ operational response to critical events in order to Keep People Safe and Businesses Running™.

Sources: Company filings and press release.
  1. This material has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from external sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. Such information is believed to be accurate on the date of issuance of the material. No subsequent publication or distribution of this material shall mean or imply that any such information or opinion remains current at any time after the stated date of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.

  2. The offering of the convertible notes was made only by means of an offering memorandum in a private offering to qualified institutional buyers (as defined in Rule 144A under the Securities Act of 1933). The notes and the shares of the Company’s common stock issuable upon conversion of the notes, if any, have not been registered under the Securities Act of 1933 or any state securities laws and the Company does not intend to file a shelf registration statement for resale of the notes or such common stock, if any.

    “Stephens” is the brand name for a family of independent privately held financial services firms, including Stephens Europe Limited, which is authorized and regulated by the Financial Conduct Authority (Registered office 12 Arthur Street, London, EC4R 9AB, Registered number 8817024) and Stephens Inc. which is regulated by the United States Securities and Exchange Commission and the Financial Industry Regulatory Authority (Home Office: 111 Center Street, Little Rock, AR USA, 501-377-2000). Stephens Inc. is a member of NYSE and SIPC. For more information, visit www.stephens.com. © 2021 Stephens