Lyft announces private offering of $650 mln of convertible senior notes

Lyft announces private offering of $650 million of convertible senior notes and capped call to increase effective conversion premium to 150%.lyft inc - intends to use a portion of net proceeds from offering to pay cost of capped call transactions.lyft inc - intention to offer $650 million of convertible senior notes due 2025.lyft inc - expects to grant initial purchasers of notes a 13-day option to purchase up to an additional $97.5 million of notes.lyft inc - notes will be senior, unsecured obligations of lyft.lyft inc - interest will be payable semi-annually in arrears.lyft inc - notes will be convertible into cash, shares of lyft's class a stock or a combination thereof, at lyft's election.lyft inc - expects to enter into privately negotiated capped call transactions.lyft inc - capped call transactions will cover, number of shares of class a stock underlying notes sold in offering.
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