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Oracle Corp’s (NYSE: ORCL)...

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15%...

RTX Corp (NYSE: RTX)...

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03...

GameStop Corp. (NYSE:GME) Quarter...

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Advanced Micro Devices (NASDAQ:AMD)...

Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading...
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Stem, Inc. (NYSE: STEM) Aims to Offer $200M in Green Convertible Notes Due 2030

Shares of Stem, Inc. (NYSE: STEM) plunges over 1.61% early trading session on Thursday as the opposed to the previously announced $175 million offering, Stem, Inc. announced the pricing of $200 million aggregate principal amount of 4.25% Green Convertible Senior Notes due 2030 in a private offering to persons regarded as qualified institutional buyers in accordance with Rule 144A of the Securities Act of 1933, as amended.

In connection with the Offering, Stem has provided the initial holders of the Notes with an option to purchase up to an additional $40 million in aggregate principal amount of the Notes on the same terms and conditions for settlement within a 13-day window beginning on the date the Notes are first issued. Subject to the usual closing requirements, the sale of the Notes to the initial buyers is anticipated to close on April 3, 2023.

The Notes will constitute senior unsecured liabilities of Stem whenever they are issued. The Notes will maturity on April 1, 2030, unless acquired, redeemed, or converted in accordance with their conditions before then. Interest will accrue on them and be due in arrears every half-year. The Notes will be convertible based on an initial conversion rate of 140.3066 shares of Stem common stock for every $1,000 in principal amount of the Notes (equivalent to an initial conversion price of roughly $7.13 per share of common stock, representing a conversion premium of roughly 27.50% over Stem’s common stock’s most recent reported sale price on the NYSE on March 29, 2023).

Upon fulfillment of certain requirements, the Notes will be convertible into cash, shares of Stem common stock, or a combination of the two, with Stem having the option to choose the form of payment. On or after April 5, 2027 and before the 45th scheduled trading day immediately before the maturity date, Stem will have the option to redeem the Notes, in whole or in part, for cash, but only if the last reported sale price per share of Stem’s common stock exceeds 130% of the conversion price for a predetermined period of time.

Stem plans to use a sum of money equal to the net proceeds of the offering to finance or refinance existing, new, or ongoing Qualified Green Expenditures whole or in part. “Eligible Green Expenditures” may cover expenditures for initiatives that are in line with the Eligible Green Expenditures, such as research, development, acquisitions, capital expenditures, and operational costs. These investments may be made to build a more reliable clean energy system, optimize software capabilities for energy systems, and reduce waste through operations.

Stem anticipates that certain buyers of the Notes may try to build hedge positions with regard to the Notes by selling shares of Stem’s common stock or by engaging in a variety of derivative transactions. Additionally, holders of the 2028 Notes that are repurchased in the above-mentioned concurrent repurchases may unwind or enter into different derivative transactions involving Stem’s common stock and/or buy shares of Stem’s common stock on the open market in order to unwind any possible hedge positions they may have with regard to the 2028 Notes.

Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on...

RTX Corp (NYSE: RTX) Updates 2023-2025 Outlook amid Engine Part Challenge

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03 per share, bringing its current trading price to $77.45. The company,...

GameStop Corp. (NYSE:GME) Quarter Report: Resilience amidst Market Turbulence

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after the market closes today. Shares were slightly down in the pre-trading...

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RTX Corp (NYSE: RTX) Updates 2023-2025 Outlook amid Engine Part Challenge

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03 per share, bringing its current trading price to $77.45. The company, with a substantial market capitalization of $112.57 billion, has seen its shares trade within a...

GameStop Corp. (NYSE:GME) Quarter Report: Resilience amidst Market Turbulence

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after the market closes today. Shares were slightly down in the pre-trading session on Wednesday, September 6, 2023. Investors and market aficionados were eagerly awaiting the tech company's...

Nikola Corp. (NASDAQ: NKLA) Hit by Active Sellers on Profit in ‘Short Squeeze’

Shares of Nikola Corp. (NASDAQ: NKLA) drops in early trading session on Monday as the cutting into paper earnings for traders betting against the electric-vehicle company and setting them up for a short squeeze. According to S3 Partners LLC statistics,...

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