Medallia (NYSE: MDLA) has closed an offering of $575 million of Convertible Senior Notes due 2025, in a private offering pursuant to Rule 144A under the Securities Act of 1933. According to the update, the notes will be senior, unsecured obligations of Medallia and will bear an annual interest rate of 0.125%. Unless earlier redeemed, repurchased or converted, the notes will mature on September 15, 2025. Medallia may not redeem the notes prior to September 20, 2023. In connection with the offering, Medallia entered into privately negotiated capped call transactions with certain of the initial purchasers or their respective affiliates and other financial institutions. The cap price of the capped call transactions will initially be $58.30 per share, representing a 100% premium over the last reported sale price of MDLA’s common stock of $29.15 per share on the New York Stock Exchange on September 15, 2020. Medallia intends to use net proceeds of the offering for general corporate purposes, which may include working capital, capital expenditures, potential acquisitions and strategic transactions.
For more information, visit the company’s website at www.Medallia.com.
About Medallia Inc.
Medallia is the pioneer and market leader in Experience Management. Medallia’s award-winning SaaS platform, the Medallia Experience Cloud, leads the market in the understanding and management of experience for customers, employees and citizens. Medallia captures experience signals created on daily journeys in person, on calls and digital channels, over video and social media and IoT interactions and applies proprietary AI technology to reveal personalized and predictive insights that can drive action with tremendous business results. Using Medallia Experience Cloud, customers can reduce churn, turn detractors into promoters and buyers, create in-the-moment cross-sell and up-sell opportunities and drive revenue-impacting business decisions, providing clear and potent returns on investment.
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