The 0% convertible notes are due 2026

Davis Polk advised the representatives of the several initial purchasers in connection with a Rule 144A offering by Affirm Holdings, Inc. of an aggregate principal amount of $1.725 billion of its 0% convertible senior notes due 2026, which included $225 million principal amount of notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional notes.

Affirm is building the next generation platform for digital and mobile-first commerce. Affirm believes by using modern technology, the very best engineering talent and a mission-driven approach Affirm can reinvent the payment experience. Affirm’s solutions, which are built on trust and transparency, make it easier for consumers to spend responsibly and with confidence, easier for merchants to convert sales and grow and easier for commerce to thrive.

The Davis Polk corporate team included partner Emily Roberts, counsel Bryan M. Quinn and associate Sarah Masako Kirk. The equity derivatives team included partner Mark J. DiFiore and associates Lindsey B. Meyers-Perez and Daniel Yu. The tax team included partner Michael Farber. The intellectual property and technology transactions team included partner Pritesh P. Shah. Partner Margaret E. Tahyar and associate Justin Levine provided financial institutions advice. Members of the Davis Polk team are based in the Northern California and New York offices.