Pega Announces Repayment of Convertible Senior Notes at Maturity
Pegasystems (NASDAQ: PEGA) has fully repaid its outstanding 0.75% Convertible Senior Notes due March 1, 2025, with a cash payment of $469.6 million. The Convertible Notes, originally issued in February 2020 for $600 million, provided essential capital during the company's transition from traditional software licensing to a subscription-based model.
The repayment coincides with Pega achieving Rule of 40 status, which the company's COO and CFO Ken Stillwell highlights as demonstrating the strength of their business model and commitment to disciplined capital allocation. The company used cash-on-hand for the repayment without issuing new debt.
Pegasystems (NASDAQ: PEGA) ha completamente rimborsato i suoi 0,75% Convertible Senior Notes in scadenza il 1 marzo 2025, con un pagamento in contante di $469,6 milioni. Le Convertible Notes, originariamente emesse a febbraio 2020 per $600 milioni, hanno fornito capitale essenziale durante la transizione dell'azienda da un modello di licenza software tradizionale a uno basato su abbonamento.
Il rimborso coincide con Pega che raggiunge lo status Rule of 40, che il COO e CFO dell'azienda, Ken Stillwell, sottolinea come dimostrazione della solidità del loro modello di business e dell'impegno per un'allocazione disciplinata del capitale. L'azienda ha utilizzato liquidità disponibile per il rimborso senza emettere nuovo debito.
Pegasystems (NASDAQ: PEGA) ha reembolsado completamente sus Bonos Senior Convertibles al 0,75% que vencen el 1 de marzo de 2025, con un pago en efectivo de $469,6 millones. Los Bonos Convertibles, emitidos originalmente en febrero de 2020 por $600 millones, proporcionaron capital esencial durante la transición de la empresa de un modelo de licencias de software tradicional a uno basado en suscripciones.
El reembolso coincide con Pega alcanzando el estado Rule of 40, que el COO y CFO de la empresa, Ken Stillwell, destaca como una demostración de la fortaleza de su modelo de negocio y del compromiso con una asignación disciplinada de capital. La empresa utilizó efectivo disponible para el reembolso sin emitir nueva deuda.
페가시스템즈 (NASDAQ: PEGA)는 2025년 3월 1일 만기인 0.75% 전환 선순위 채권을 $469.6 백만의 현금 지급으로 전액 상환했습니다. 이 전환 채권은 2020년 2월에 $600 백만에 발행되어 회사가 전통적인 소프트웨어 라이선스 모델에서 구독 기반 모델로 전환하는 동안 필수적인 자본을 제공했습니다.
상환은 페가가 Rule of 40 상태를 달성하는 것과 동시에 이루어지며, 회사의 COO 겸 CFO인 Ken Stillwell은 이를 그들의 비즈니스 모델의 강점과 자본 배분의 규율에 대한 헌신을 보여주는 것으로 강조합니다. 회사는 새로운 부채를 발행하지 않고도 상환을 위해 보유 현금을 사용했습니다.
Pegasystems (NASDAQ: PEGA) a entièrement remboursé ses obligations senior convertibles à 0,75% arrivant à échéance le 1er mars 2025, avec un paiement en espèces de $469,6 millions. Les obligations convertibles, initialement émises en février 2020 pour $600 millions, ont fourni un capital essentiel lors de la transition de l'entreprise d'un modèle de licence logicielle traditionnel à un modèle basé sur l'abonnement.
Le remboursement coïncide avec Pega atteignant le statut Rule of 40, que le COO et CFO de l'entreprise, Ken Stillwell, souligne comme une démonstration de la solidité de leur modèle commercial et de leur engagement envers une allocation de capital disciplinée. L'entreprise a utilisé des liquidités disponibles pour le remboursement sans émettre de nouvelles dettes.
Pegasystems (NASDAQ: PEGA) hat seine ausstehenden 0,75% wandelbaren vorrangigen Anleihen, die am 1. März 2025 fällig werden, vollständig mit einer Barzahlung von $469,6 Millionen zurückgezahlt. Die wandelbaren Anleihen, die ursprünglich im Februar 2020 für $600 Millionen ausgegeben wurden, haben während des Übergangs des Unternehmens von einem traditionellen Softwarelizenzmodell zu einem abonnementbasierten Modell essentielles Kapital bereitgestellt.
Die Rückzahlung fällt mit Pega's Erreichung des Rule of 40-Status zusammen, den der COO und CFO des Unternehmens, Ken Stillwell, als Beweis für die Stärke ihres Geschäftsmodells und das Engagement für eine disziplinierte Kapitalallokation hervorhebt. Das Unternehmen hat für die Rückzahlung vorhandenes Bargeld verwendet, ohne neue Schulden aufzunehmen.
- Full repayment of $469.6M convertible debt using cash-on-hand
- Achievement of Rule of 40 status indicating business model strength
- Successful completion of transition to subscription-based model
- No new debt issuance required for repayment
- Significant cash outlay of $469.6M reducing available cash reserves
Strategic Debt Fully Repaid as Pega Achieves Rule of 40 Status(1)
The Convertible Notes, which were issued in February 2020 for an aggregate principal amount of
“The full repayment of our remaining Convertible Notes represents a significant milestone in Pega's transformation journey,” said Ken Stillwell, COO and CFO, Pega. “The capital raised through these Convertible Notes was instrumental in funding our subscription model transition.”
The repayment of the Convertible Notes comes as Pega recently achieved Rule of 40 status. “Becoming a Rule of 40 company and retiring our Convertible Notes demonstrates the strength of Pega's business model and our commitment to maintaining a disciplined approach to capital allocation,” added Stillwell.
Pega used cash-on-hand to repay the Convertible Notes and did not issue new debt in connection with the repayment.
Further information is set forth in the Current Report on Form 8-K filed by the Company with the
(1) Rule of 40 Status reflects the adjustments disclosed as supplemental information in Item 7 of the Annual Report on Form 10-K filed by Pegasystems Inc. with the SEC on February 12, 2025.
About Pegasystems
Pega is The Enterprise Transformation Company that helps organizations Build for Change® with enterprise AI decisioning and workflow automation. Many of the world’s most influential businesses rely on our platform to solve their most pressing challenges, from personalizing engagement to automating service to streamlining operations. Since 1983, we’ve built our scalable and flexible architecture to help enterprises meet today’s customer demands while continuously transforming for tomorrow. For more information on Pega (NASDAQ: PEGA), visit www.pega.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20250303959966/en/
Press:
Lisa Pintchman
VP, Corporate Communications
lisa.pintchman@pega.com
617-866-6022
Twitter: @pega
Investor:
Peter Welburn
VP, Corporate Development & Investor Relations
PegaInvestorRelations@pega.com
617-498-8968
Source: Pegasystems Inc.
FAQ
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