BURLINGTON, Mass.--(BUSINESS WIRE)--Everbridge, Inc. (Nasdaq: EVBG) announced today that it intends to offer, subject to market and other conditions, $375.0 million aggregate principal amount of convertible senior notes due 2024 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. Everbridge also expects to grant the initial purchasers a 13-day option to purchase up to an additional $75.0 million aggregate principal amount of Notes.

The Notes will be general unsecured obligations of Everbridge and will accrue interest payable semiannually in arrears. The Notes will be convertible into cash, shares of Everbridge's common stock or a combination of cash and shares, at Everbridge's election. The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of the pricing of the offering.

Everbridge intends to use a portion of the net proceeds from the offering of the Notes to pay the cost of the capped call transactions described below, and to repurchase for cash (such transactions, the repurchases) up to approximately 20% of the principal amount of Everbridge’s existing 1.50% Convertible Senior Notes due 2022 (the 2022 notes) through individually privately negotiated transactions concurrently with the offering of the Notes. The terms of any repurchases of the 2022 notes will depend on factors, including the market price of Everbridge’s common stock and the trading price of the 2022 notes at the time of such repurchase.

About Everbridge

Everbridge, Inc. is a global software company that provides enterprise software applications that automate and accelerate organizations’ operational response to critical events in order to keep people safe and businesses running.