Company: MTCH
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000891103-25-000076
Chunk: 34

Company: Match Group, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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(In thousands)Principal$575,000 $575,000 $575,000 $575,000 Less: Unamortized debt issuance costs1,976 5,331 2,371 5,592 Net carrying value included in long-term debt, net$573,024 $569,669 $572,629 $569,408 The following table sets forth interest expense recognized related to the Exchangeable Notes:Three Months Ended March 31, 2025Three Months Ended March 31, 20242026 Exchangeable Notes2030 Exchangeable Notes2026 Exchangeable Notes2030 Exchangeable Notes(In thousands)Contractual interest expense$1,258 $2,875 $1,258 $2,875 Amortization of debt issuance costs395 261 398 258 Total interest expense recognized$1,653 $3,136 $1,656 $3,133 The effective interest rates for the 2026 and 2030 Exchangeable Notes are 1.2% and 2.2%, respectively.Exchangeable Notes Hedges and WarrantsIn connection with the Exchangeable Notes offerings, the Company purchased call options allowing the Company to purchase initially (subject to adjustment upon the occurrence of specified events) the same number of shares that would be issuable upon the exchange of the applicable Exchangeable Notes at the prices per share set forth below (the “Exchangeable Notes Hedge”), and sold warrants allowing the counterparty to purchase (subject to adjustment upon the occurrence of specified events) shares at the per share prices set forth below (the “Exchangeable Notes Warrants”).The Exchangeable Notes Hedges are expected to reduce the potential dilutive effect on the Company’s common stock upon any exchange of Exchangeable Notes and/or offset any cash payment Match Group FinanceCo 2, Inc. or Match Group FinanceCo 3, Inc. is required to make in excess of the principal amount of the exchanged notes. The Exchangeable Notes Warrants have a dilutive effect on the Company’s common stock to the extent that the market price per share of the Company common stock exceeds their respective strike prices.The following tables present details of the Exchangeable Notes Hedges and Warrants outstanding at March 31, 2025:Number of Shares(a)Approximate Equivalent Exchange Price per Share(a)(Shares in millions)2026 Exchangeable Notes Hedge6.6$87.01 2030 Exchangeable Notes Hedge6.9$83.