Wix.com Ltd., a leader in website creation, has announced the pricing of US$500 million aggregate principal amount of 0% Convertible Senior Notes due 2025 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. In connection with the Offering, Wix has granted the initial purchasers of the Notes an option to purchase, within a 13-day period beginning on, and including, the date on which the Notes are first issued, up to an additional $75 million aggregate principal amount of the Notes solely to cover over-allotments. The sale of the Notes to the initial purchasers is expected to settle on August 13, 2020, subject to customary closing conditions.
Latham & Watkins LLP represents Wix.com Ltd. in the transaction with a capital markets team led by London partner Joshua Kiernan and New York partner Nathan Ajiashvili, with New York associates Taylor Stevens, Thomas Gabay and Matt Schlanger. Advice was also provided on derivative matters by New York partner Reza Mojtabaee-Zamani, with New York associates Polina Tulupova and Ariel Robbins-Rothman; and on tax matters by New York partner Elena Romanova.