Unity Software (U) said Monday it plans to offer $500 million total principal amount of convertible senior notes due 2030 in a private offering.
The company said it also plans to provide the initial buyers of the notes with a 13-day option to purchase up to an additional $75 million of the notes.
Unity said it intends to use the net proceeds, along with cash on hand, to repurchase roughly $500 million of its 0% convertible senior notes due 2026, and for general corporate purposes.
Shares of the company were down more than 5% in recent Monday premarket activity.
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