Perficient, Inc., a leading digital consultancy, helping transform some of the world's biggest brands, has announced the pricing of its private offering of US$200 million aggregate principal amount of 1.25% Convertible Senior Notes due 2025 to be sold to qualified institutional buyers in reliance on Rule 144A under the Securities Act. The offering size was increased from the previously announced offering size of US$185 million aggregate principal amount of notes. Perficient has granted the initial purchasers of the Notes an option to purchase up to an additional US$30 million aggregate principal amount of Notes. The offering is expected to close on August 14, 2020, subject to customary closing conditions. Perficient estimates that the net proceeds from the offering of the Notes will be approximately US$193.5 million (or approximately US$222.6 million if the initial purchasers exercise their option to purchase additional Notes in full), after deducting the initial purchasers’ discount and estimated offering expenses.
Latham & Watkins LLP represented the initial purchasers in the offering with a capital markets team led by New York partners Greg Rodgers and Benjamin Cohen, with Los Angeles counsel Arash Aminian Baghai and associates Jessi Lim, Regan Devers, and Carolina Bernal. Advice was also provided on equity derivatives matters by New York partner Catherine Lee, with associates Marc Langer and Shawn Noh; and on tax matters by New York partner Bora Bozkurt, with associate Ron Moore.