BUZZ-Life360 falls on planned $250 million convertible bond offering

Reuters
06-02
BUZZ-Life360 falls on planned $250 million convertible bond offering

** Family safety app Life360's LIF.O shares fall 2.9% to $61.70 premarket

** LIF announces intention to offer $250 million worth of convertible bonds due 2030 in a private offering

** Bonds will accrue interest payable semi-annually in arrears

** LIF plans to use the proceeds for capped call transactions and other purposes, which may include acquisitions and investments

** Capped calls are derivative transactions employed to offset share dilution

** Co has 76.5 million outstanding shares for $4.86 billion market cap, per LSEG data

** All 6 brokerages covering the stock rate "buy" or higher; median PT $56 - data compiled by LSEG

** As of last close, LIF stock up 54% YTD

(Reporting by Arasu Kannagi Basil in Bengaluru)

((ArasuKannagi.Basil@thomsonreuters.com;))

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