Pitney Bowes Inc. announced on August 8, 2025, the completion of its previously announced offering of $230 million aggregate principal amount of 1.50% convertible senior notes due 2030. This amount includes $30 million from the initial purchasers' option to buy additional notes.
The company received net proceeds of approximately $221.4 million. Approximately $24.7 million was used to fund capped call transactions, which are designed to reduce potential dilution. An additional $61.9 million was used to repurchase shares of the company’s common stock in privately negotiated transactions concurrently with the offering.
The remaining net proceeds will be allocated to general corporate purposes and other strategic investments, including reinvestments in the business, repayment or refinancing of debt, and initiatives to reduce leverage or average borrowing cost. CEO Kurt Wolf stated that the successful capital raise on favorable terms demonstrates Pitney Bowes as a revitalized organization with significant runway for continued value creation.
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