Affirm Holdings Inc.
Affirm Holdings, Inc. Announces Issuance of $920M Convertible Senior Notes and Repurchase of $250M Class A Common Stock
Summary
On December 20, 2024, Affirm Holdings, Inc. sold $920 million aggregate principal amount of its 0.75% Convertible Senior Notes due 2029 in a private placement. In connection with this issuance, the company repurchased $960 million aggregate principal amount of its 0% convertible notes due 2026 and 3,526,590 shares of its Class A common stock for approximately $250 million in total. These transactions were executed in privately negotiated transactions. The notes issuance is governed by an Indenture dated December 20, 2024, with Wilmington Trust, National Association, as trustee. The repurchases are expected to settle on or about December 20, 2024.
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About Affirm Holdings Inc.
Affirm Holdings Inc. is a financial technology company that offers a flexible and transparent alternative to traditional credit. Its primary function is to provide consumers with installment loans at the point of sale to finance purchases. This service allows customers to split the cost of large purchases into manageable payments over time, often without hidden fees or compounding interest, which is a distinctive feature in the credit space. Affirm is widely used in e-commerce sectors, partnering with a vast array of retailers to simplify the purchasing process online. Founded in 2012 and headquartered in San Francisco, California, Affirm leverages advanced data analytics to perform credit checks and approve loans quickly, positioning itself as a leader in the "buy now, pay later" market. Through these partnerships, retailers can increase their conversion rates by providing shoppers with more purchasing options, thus enhancing customer satisfaction. As a prominent player in the fintech industry, Affirm Holdings Inc. significantly influences consumer spending behaviors, impacting sectors ranging from retail and travel to wellness and automotive services.
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