MercadoLibre Announces Convertible Note Redemption
19 Setembro 2023 - 09:03AM
MercadoLibre, Inc. (Nasdaq: MELI) today announced that it will
redeem all of its outstanding 2.00% Convertible Senior Notes due
2028 on November 14, 2023. $439,075,000 aggregate principal amount
of the notes is currently outstanding.
In lieu of surrendering their notes for redemption, holders of
the notes may elect to convert their notes at any time before 5
p.m. (New York City time) on November 13, 2023. Each $1,000
principal amount of notes is convertible into 2.2952 shares of
MercadoLibre common stock. This conversion rate reflects an
increase of 0.0399 additional shares per $1,000 principal amount of
notes above the otherwise applicable conversion rate, which applies
because the notes have been called for redemption. MercadoLibre
will settle any conversions solely in shares of common stock,
except that any fractional shares that would otherwise be
deliverable will be paid out in cash.
To convert their notes, holders must comply with the procedures
set forth in the indenture governing the notes, including
electronic presentation and surrender of their notes for conversion
through the facilities of DTC.
The redemption price to be paid for any notes that are not
converted will be 100% of the redeemed notes’ principal amount plus
accrued and unpaid interest up to, but excluding, the redemption
date.
MercadoLibre intends to settle conversions of the notes solely
using treasury shares that it has previously purchased in the open
market or received upon settlement of various instruments that it
purchased to hedge potential dilution from conversion of the
notes.
Martín de los Santos, Chief Financial Officer of MercadoLibre
noted, “Retirement of the remaining notes will save MercadoLibre
approximately $44 million in interest expense that would have been
payable had the notes remained outstanding to maturity.”
This press release is not a notice of redemption. The redemption
will be made solely pursuant to the redemption notice.
This announcement does not constitute an offer to buy or sell,
or the solicitation of an offer to sell or buy, securities in any
jurisdiction.
About MercadoLibre
Founded in 1999, MercadoLibre, Inc is the leading company in
e-commerce technology and digital financial services in Latin
America, with operations in 18 countries. It offers a complete
ecosystem of solutions for individuals and businesses to buy, sell,
advertise, obtain credit and insurance, collect, send money, save,
and pay for goods and services both online and in physical stores.
Mercado Libre looks to democratize commerce and financial services
in Latin America, a market that offers great opportunities and high
growth potential. It uses world-class technology to create
intuitive solutions tailored to the local culture in order to
transform the lives of millions of people in the region. More
information at http://investor.mercadolibre.com/
Forward-Looking Statements
Any statements herein regarding MercadoLibre, Inc. that are not
historical or current facts are forward-looking statements. These
forward-looking statements convey MercadoLibre, Inc.’s current
expectations or forecasts of future events. Forward-looking
statements regarding MercadoLibre, Inc. involve known and unknown
risks, uncertainties and other factors that may cause MercadoLibre,
Inc.’s actual results, performance or achievements to be materially
different from any future results, performances or achievements
expressed or implied by the forward-looking statements. Certain of
these risks and uncertainties are described in the “Risk Factors,”
“Forward-Looking Statements” and “Cautionary Note Regarding
Forward-Looking Statements” sections of MercadoLibre, Inc.’s annual
report on Form 10-K for the year ended December 31, 2022, and any
of MercadoLibre, Inc.’s other applicable filings with the
Securities and Exchange Commission. Unless required by law,
MercadoLibre, Inc. undertakes no obligation to publicly update or
revise any forward-looking statements to reflect circumstances or
events after the date hereof.
Investor Relations
Contact:investor@mercadolibre.comhttps://investor.mercadolibre.com
Media Relations
Contact:valeria.bazzi@mercadolibre.com
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