Jun. 13 at 4:35 PM
$CDLX one would just know that big money will drive the price up heavily: In March 2024, Cardlytics priced a
$150 million offering of 4.25% convertible senior notes due 2029. The initial conversion price for these notes is approximately
$18.02 per share. The conversion rate is 55.4939 shares per
$1,000 principal amount of notes. This price represents a 32.5% premium over the last reported share price of
$13.60 at the time of the offering. The main holders of the
$18.02 convertible notes are institutional investors, with Clifford Sosin as a prominent example. At a current share price of
$1.60, these investors have a clear financial incentive to see the CDLX stock price rise dramatically before conversion becomes attractive!
