Alarm.com Holdings, Inc. (ALRM), a provider of Internet of Things (IoT) and solutions, Tuesday said it intends to offer $375 million of convertible senior notes due 2029 in a private placement.
Alarm.com expects to use the net proceeds from the offering to pay the cost of the capped call transactions, to repurchase up to $75 million of its shares, and for general corporate purposes.
The company also intends to grant the initial purchasers of the notes an option to purchase up to an additional $56.25 million of notes.
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