8-KMaterial AgreementsOther EventsExhibits & Filings

CrowdStrike Holdings, Inc. 8-K Report, Material Agreement (Jan 20, 2021)

Filed January 20, 2021For Securities:CRWD

Summary

CrowdStrike Holdings, Inc. (CRWD) announced a significant financing event through the issuance of $750 million in 3.000% Senior Notes due 2029. This offering, executed on January 20, 2021, provides the company with substantial capital, earmarked for general corporate purposes which may include strategic initiatives such as acquisitions, capital expenditures, and working capital needs. The notes are guaranteed by CrowdStrike, Inc. and will be further guaranteed by future domestic subsidiaries that become borrowers or guarantors under the company's credit agreement. These notes represent unsecured general obligations of the company, ranking equally with existing and future unsecured, unsubordinated indebtedness. The issuance reflects CrowdStrike's ongoing growth and its proactive approach to capital management, enabling it to fund its strategic objectives and maintain financial flexibility. Investors should note the terms of the notes, including their maturity date, interest rate, and provisions for redemption and repurchase in the event of a change of control, which are detailed in the accompanying indenture.

Key Highlights

  • 1CrowdStrike issued $750 million of 3.000% Senior Notes due 2029.
  • 2Proceeds are intended for general corporate purposes, including potential acquisitions, capital expenditures, and working capital.
  • 3The notes are guaranteed by CrowdStrike, Inc. and potentially future domestic subsidiaries.
  • 4The notes mature on February 15, 2029, with semi-annual interest payments.
  • 5The company has redemption options starting February 15, 2024, with specific terms for early redemption using equity proceeds or 'make-whole' premiums.
  • 6A 'change of control' triggering event requires the company to offer to repurchase notes at 101% of the principal amount.
  • 7The notes are unsecured general obligations, ranking senior to subordinated debt and equally with other unsecured, unsubordinated debt.

Frequently Asked Questions

This 8-K filing primarily announces CrowdStrike's entry into a material definitive agreement regarding the issuance and sale of $750 million aggregate principal amount of its 3.000% Senior Notes due 2029.

The company intends to use the net proceeds for general corporate purposes. This may include, but is not limited to, acquisitions, capital expenditures, and working capital.

The notes bear an annual interest rate of 3.000%, mature on February 15, 2029, and interest is payable semi-annually on February 15 and August 15. They are unsecured general obligations of the company.

Yes, CrowdStrike can redeem the notes starting February 15, 2024. The company also has the option to redeem up to 40% of the principal amount using net proceeds from equity offerings prior to February 15, 2024, at 103% of the principal. Additionally, upon a 'change of control' triggering event, the company must offer to repurchase the notes at 101% of their principal amount.