WisdomTree Prices $525M Convertible Notes Offering

WisdomTree announced the pricing of its offering of $525M aggregate principal amount of convertible senior notes due 2031 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. WisdomTree also has granted the initial purchasers of the notes an option to purchase up to an additional $78.75M aggregate principal amount of the notes, which the initial purchasers exercised in full. The sale of the full $603.75M aggregate principal amount of notes to the initial purchasers is expected to settle on March 30, subject to customary closing conditions, and to result in approximately $591.2M in net proceeds to WisdomTree after deducting the initial purchasers' discount and estimated offering expenses payable by WisdomTree. WisdomTree intends to use approximately $200M of the net proceeds from the offering to pay the closing consideration for its previously announced acquisition of Atlantic House Holdings; approximately $302.7M of the net proceeds from the offering to pay the cash consideration to exchange its 3.25% convertible senior notes due 2029 in the notes exchange transactions, as described below; and the remainder of the net proceeds from the offering, if any, for working capital and other general corporate purposes, which may include the repayment of indebtedness, including under its 3.25% convertible senior notes due 2026, the remainder of its 2029 notes and its 4.625% convertible senior notes due 2030. If the Acquisition is not consummated, WisdomTree intends to use the proceeds it would have otherwise used to finance the Acquisition for general corporate purposes.