ChargePoint Holdings, Inc.

ChargePoint completed a privately negotiated exchange of its convertible senior notes, cutting outstanding liabilities by $172 million (more than 50%). The 2028 notes with a face value of $329 million were exchanged for roughly $222 million of consideration, consisting of a $157 million senior secured loan, cash payments of up to $55 million and warrants worth about $10 million. The new loan matures on January 31, 2030, carries a 12% interest rate (first year may be paid in kind), reduces annual interest expense by about $10 million and eliminates a 125% change-of-control repayment premium worth roughly $82 million. After the transaction total debt fell from $340 million to $168 million, but the company remains exposed on profitability with negative EBITDA of nearly $198 million over the last twelve months and a limited market capitalization. » Más en de.investing.com