Alarm.com Holdings (ALRM) said Tuesday that it plans to offer $375 million worth of convertible senior notes due 2029 in a private placement to qualified institutional investors.
The company said it expects to use the net proceeds to repurchase up to $75 million of its common stock, pay the cost of certain call transactions, and for general corporate purposes, which could include acquisitions or strategic investments.
Alarm.com also said it plans to grant the initial purchasers of the notes an option to buy up to an additional $56.3 million worth of notes within a 13-day period.
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