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JetBlue Airways announced the pricing of $400 million aggregate principal amount of its 2.50% convertible senior notes due 2029 (the "notes"). JetBlue granted the initial purchasers of the notes an option to purchase up to an additional $60 million aggregate principal amount of the notes. JetBlue expects to close the offering on or about August 16, 2024, subject to the satisfaction of customary conditions.
In certain circumstances prior to June 1, 2029 and thereafter, at any time until the close of business on the second scheduled trading day immediately preceding the maturity date, the notes may be converted at an initial conversion price of approximately $6.12 per share of JetBlue's common stock, representing approximately a 27.5% conversion premium over the closing price of $4.80 per share on The NASDAQ Global Select Market on August 12, 2024. JetBlue may not redeem the notes prior to September 1, 2027. On or after September 1, 2027 and until, and including, the 45th scheduled trading day before the maturity date, JetBlue may, at its option, redeem all or part of the notes, under certain circumstances.
Posted In: JBLU
