DLA Piper advises Q2 Holdings in its issuance of US$350 million of convertible senior notes in private exchange and subscription transactions
DLA Piper represented Q2 Holdings, Inc. (NYSE: QTWO), a leading provider of digital transformation solutions for banking and lending, in private exchange and subscription transactions with certain holders of its outstanding 0.75% convertible senior notes due 2023 and certain new investors. Under the exchange and subscription agreements, Q2 issued US$350 million principal amount of 0.125% convertible senior notes due 2025, consisting of US$210.7 million of new notes and either shares of Q2’s common stock or cash in exchange for approximately US$181.9 million principal amount of the 2023 notes, and US$139.3 million principal amount of new notes for cash.
“We appreciated the opportunity to deliver our wide-ranging capital markets and technology sector experience to assist Q2 in these transactions, which will enable it to continue providing innovative digital banking and lending solutions to companies in the US and internationally,” said John J. Gillully III, global co-chair of DLA Piper’s Corporate practice, who led the firm’s deal team.
In addition to Gilluly, the DLA Piper team representing Q2 Holdings included partners Brent Bernell (Austin), Jamie Knox (New York) and Marc Horwitz (Chicago); and associates Drew Valentine (Austin/New York), Brian Wohlberg (Chicago) and Rebekah Rodriguez (Austin).
DLA Piper’s global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities.
DLA Piper's global Technology sector lawyers work across practice areas and offices to support technology clients – from startups to fast-growing and mid-market businesses to mature global enterprises – doing business around the world.