Alphawave IP Group plc (LON: AWE), Alphawave Semi, a global leader in high-speed connectivity and compute for the world’s data centre infrastructure, has announced the successful pricing of the offering of $150 million of senior unsecured convertible bonds due 2030.
Use of Proceeds
The Issuer plans to use the proceeds of the Bonds to finance its ongoing growth plans, in particular investment in research & development, capital expenditures and other general corporate purposes – and may also include repayment of debt obligations.
The Bonds will be issued at par and will carry a coupon of 3.75% per annum payable semi-annually in arrear in equal instalments in March and September of each year, commencing on 18 March 2025 (except in respect of the short first coupon payable on the first interest payment date). The Bonds will be convertible into ordinary shares of the Issuer. The initial conversion price shall be $1.9423, representing a premium of 30.0% above the Clearing Price (as defined below) determined through the simultaneous placement of existing Ordinary Shares conducted alongside the Offering by the Joint Bookrunners. The conversion price will be subject to adjustment in certain circumstances in line with market practice and as further set out in the final terms and conditions of the Bonds.
