Alteryx Announces Upsizing and Pricing of $450 Million of Senior Unsecured Notes Due 2028

Rhea-AI Summary

Alteryx announced the pricing of its offering of $450 million in senior unsecured notes due 2028, increased by $100 million from the original offering size. The offering, which will close on March 6, 2023, is conducted in a private setting exempt from Securities Act registration. Proceeds will be utilized for general corporate purposes, including potential repayment of convertible notes. The notes will be guaranteed by select subsidiaries, including Alteryx UK Ltd. It's important to note that these notes have not been registered under the Securities Act and are available only to qualified institutional buyers.

Positive

• Upsized offering from $350 million to $450 million, indicating strong demand.
• Proceeds to potentially enhance financial flexibility through repayment of convertible notes.

Negative

• Notes are not registered under the Securities Act, limiting their marketability.
• Completion of the offering is subject to risks and uncertainties, with no assurance of finalization.

IRVINE, Calif., March 1, 2023 /PRNewswire/ -- Alteryx, Inc. ("Alteryx" or the "Company") (NYSE: AYX) announced today that it has priced its offering of $450 million aggregate principal amount of its 8.75% senior notes due 2028 (the "notes") in a private offering (the "offering") that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The aggregate principal amount of the offering was increased by $100 million from the previously announced offering size. The offering is expected to close on March 6, 2023, subject to customary closing conditions. 

The Company intends to use the net proceeds of the offering for general corporate purposes, including potential repurchases or repayments of its outstanding convertible notes.

The notes will be guaranteed on a senior unsecured basis by certain subsidiaries of the Company. Alteryx UK Ltd will initially guarantee the notes.

The notes have not been and will not be registered under the Securities Act, or the securities laws of any other jurisdiction.  Unless they are registered, the notes may be offered only in transactions that are exempt from registration under the Securities Act and applicable state securities laws.  The notes are being offered and sold only to persons reasonably believed to be qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act.

This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of the notes in any state or jurisdiction in which such offer, solicitation or sale is unlawful.  Any offers of the notes will be made only by means of a private offering memorandum.  This notice is being issued pursuant to and in accordance with Rule 135(c) under the Securities Act.

Forward-Looking Statements

This press release contains forward-looking statements that are based on Alteryx management's current expectations. Such statements include plans, projections and estimates regarding the offering and the receipt and use of the net proceeds from the offering. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including investor demand, market conditions, customary closing conditions and other factors. In particular, there can be no assurance that Alteryx will complete the offering. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. More information about potential risk factors that could affect Alteryx and its results is included in Alteryx's filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2022. Alteryx does not assume any obligation to update the forward-looking information contained in this press release.

View original content to download multimedia:https://www.prnewswire.com/news-releases/alteryx-announces-upsizing-and-pricing-of-450-million-of-senior-unsecured-notes-due-2028-301760258.html

SOURCE Alteryx, Inc.

FAQ

What is the amount of the new senior unsecured notes offered by Alteryx?

Alteryx is offering $450 million in senior unsecured notes due 2028.

When will the offering of Alteryx's senior notes close?

The offering is expected to close on March 6, 2023.

What are the intended uses for the proceeds from Alteryx's note offering?

The proceeds will be used for general corporate purposes, including the potential repayment of outstanding convertible notes.

What percentage is the interest rate on Alteryx's senior unsecured notes?

The senior unsecured notes carry an interest rate of 8.75%.

Is Alteryx's senior note offering registered with the SEC?

No, the notes have not been registered and are offered only in exempt transactions.