Cardlytics announces proposed convertible senior notes offering

Cardlytics announced its intention to offer, subject to market and other conditions, $150.0 million aggregate principal amount of convertible senior notes due 2029 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. Cardlytics also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $22.5 million aggregate principal amount of notes. The notes will be senior, unsecured obligations of Cardlytics, will accrue interest payable semi-annually in arrears and will mature on April 1, 2029, unless earlier converted or repurchased by Cardlytics. Noteholders will have the right to convert their notes in certain circumstances and during specified periods. Cardlytics will settle conversions by paying or delivering, as applicable, cash, shares of its common stock or a combination of cash and shares of its common stock, at Cardlytics’ election.