WisdomTree, Inc. priced $525.0 million aggregate principal amount of 4.50% convertible senior notes due 2031 on March 23, 2026, with initial purchasers exercising their option for an additional $78.75 million, totaling $603.75 million, expected to close March 30, 2026. Concurrently, the company agreed to exchange $75.0 million of 2026 Notes and $275.0 million of 2029 Notes for cash and approximately 11 million shares.
Key takeaways
Priced $525.0 million 4.50% convertible senior notes due October 1, 2031 at 100% of principal amount.
Initial purchasers fully exercised $78.75 million additional notes option; total $603.75 million aggregate principal.
Initial conversion rate of 46.3306 shares per $1,000 principal (approx. $21.58 per share, 60% premium to $13.49 NYSE close on March 23, 2026).
Exchanged $75.0 million 2026 Notes for approx. 6.81 million common shares and $0.7 million cash interest.
Exchanged $275.0 million 2029 Notes for $302.7 million cash, approx. 4.19 million common shares, and $1.1 million cash interest.
Expected $591.2 million net proceeds; uses include $200.0 million for Atlantic House Holdings Limited acquisition and $302.7 million for 2029 Notes exchange.