Summary
MercadoLibre, Inc. (MELI) announced on September 19, 2023, its intention to redeem all of its outstanding 2.00% Convertible Senior Notes due 2028. This action affects approximately $439 million in principal amount of notes. The redemption is scheduled for November 14, 2023. Investors holding these notes have a critical decision to make: either surrender their notes for redemption at par value plus accrued interest, or elect to convert their notes into MELI common stock before a specified deadline of November 13, 2023. Each $1,000 principal amount of notes is convertible into 2.2952 shares of MELI common stock, a conversion ratio that investors should carefully evaluate against the current market price of MELI's shares to determine the most advantageous course of action.
Key Highlights
- 1MercadoLibre (MELI) is redeeming its 2.00% Convertible Senior Notes due 2028.
- 2The redemption date is set for November 14, 2023.
- 3Noteholders have the option to convert their notes into MELI common stock until November 13, 2023.
- 4Each $1,000 principal amount of notes converts into 2.2952 shares of MELI common stock.
- 5The redemption price for unconverted notes will be 100% of the principal amount plus accrued and unpaid interest.
- 6Approximately $439.075 million in aggregate principal amount of these notes is currently outstanding.
- 7This filing is not the official notice of redemption, which will be issued separately.