PagerDuty stock falls on new debt offering
PagerDuty Inc. (PD) shares fell in the extended session Monday after the DevOps software company said it was issuing new notes to cover the purchase of old ones. The company said it intends to offer $350 million principal amount of convertible senior notes due 2028, with an additional $52.5 million available, to pay the cost of buying back notes due in 2025. PagerDuty said it will use the remainder in proceeds for general corporate purposes, including potential acquisitions. Shares of PagerDuty fell as much as 10% after hours.
-Wallace Witkowski
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10-09-23 1624ET
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