Rapid7 $260 million convertible notes offering and capped call transactions
We advised Rapid7 on the offering
Davis Polk advised Rapid7, Inc. on its Rule 144A offering of $260 million aggregate principal amount of its 1.25% convertible senior notes due 2029 and related capped call transactions.
Rapid7 intends to use the proceeds from the convertible notes offering to repurchase its 2025 notes, fund the cost of entering into the capped call transactions and for general corporate purposes.
Headquartered in Boston, Massachusetts, Rapid7 is on a mission to create a safer digital world by making cybersecurity simpler and more accessible. Rapid7 empowers security professionals to manage a modern attack surface through best-in-class technology, leading-edge research and broad, strategic expertise. Rapid7’s comprehensive security solutions help more than 11,000 global customers unite cloud risk management and threat detection to reduce attack surfaces and eliminate threats with speed and precision.
The Davis Polk corporate team included partner Nicole Brookshire, counsel Jacqueline Marino and associates Robert MacKenzie and Jenny Li. The equity derivatives team included partner Mark J. DiFiore, counsel Justin Michael and associates Lindsey B. Meyers-Perez, Jonathan Schlecht and Ray Roesler. Partner Lucy W. Farr provided tax advice. All members of the Davis Polk team are based in the New York office.