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Baker Botts Represents RealPage, Inc. in $345 Million Offering of 1.50% Convertible Senior Notes

Deal Description: On May 23, 2017, RealPage, Inc. (NASDAQ: RP) closed its private offering of $345 million aggregate principal amount of 1.50% Convertible Senior Notes due 2022, including Convertible Notes with an aggregate principal amount of $45 million issued pursuant to the initial purchasers’ exercise in full of an over-allotment option. The Convertible Notes were offered to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. In connection with the issuance of the Convertible Notes, RealPage also entered into convertible note hedge transactions and warrant transactions with certain of the initial purchasers and/or their affiliates and one or more other financial counterparties. The Convertible Notes will pay interest semiannually in arrears at a rate of 1.50% and will be convertible into cash, shares of RealPage’s common stock or a combination of cash and shares of the company’s common stock, at the company’s election, based on the applicable conversion rate at such time. 

RealPage applied a portion of the net proceeds from the sale of the Convertible Notes to pay the cost of the convertible note hedge transactions (after such cost was partially offset by the proceeds from the sale of the warrants). RealPage expects to use the remaining net proceeds for general corporate purposes, which may include financing potential future acquisitions. 

Baker Botts Lawyers/Office Involved:  Don McDermett (Partner, Dallas); Courtney York (Partner, Dallas); Bob Murray (Partner, New York); Michelle Matthews (Associate, Dallas); Kathryn Betts (Associate, Dallas); Josh Mandell (Partner, Dallas); Aaron Pinegar (Senior Associate, Dallas); and Scott Langley (Associate, New York).
For more information on this transaction, click RealPage, Inc

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