Company: CDLX
Filing Date: 2025-04-03
Form Type: ARS
Source: 0001666071-25-000048
Chunk: 137

Company: Cardlytics, Inc.
Filing Date: 2025-04-03
Form: ARS
Chunk 137
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; (iii) upon the occurrence of certain corporate events or distributions on the common stock, as described in the 2024 Indenture; and (iv) at any time from, and including, January 2, 2029 until the close of business on the scheduled trading day immediately before the maturity date. We will settle conversions by paying or delivering, as applicable, cash, shares of our common stock or a combination of cash and shares of our common stock, at our election. The initial conversion rate is 55.4939 shares of common stock per $1,000 principal amount of 2024 Convertible Senior Notes, which represents an initial conversion price of $18.02 per share of common stock. The conversion rate and conversion price will be subject to customary adjustments upon the occurrence of certain events. In addition, if certain corporate events that constitute a "Make-Whole Fundamental Change" (as defined in the 2024 Indenture) occur, then the conversion rate will, in certain circumstances, be increased for a specified period of time. If a "Fundamental Change" (as defined in the 2024 Indenture) occurs, then, subject to a limited exception for certain cash mergers, noteholders may require us to repurchase their 2024 Convertible Senior Notes at a cash repurchase price equal to the principal amount of the 2024 Convertible Senior Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the fundamental change repurchase date. The definition of Fundamental Change includes certain business combination transactions involving us and certain de-listing events with respect to the common stock. The net carrying amount of the liability component of the 2024 Convertible Senior Notes is as follows (in thousands): December 31, 2024 Principal $ 172,500 Minus: Unamortized issuance costs (4,771) Net carrying amount $ 167,729 Interest expense recognized related to the 2024 Convertible Senior Notes is as follows (in thousands): December 31, 2024 Contractual interest expense (due in cash) $ 5,478 Amortization of debt issuance costs 838 Total interest expense related to the 2024 Convertible Senior Notes $ 6,316 Effective interest rate 4.90 % 2020 Convertible Senior Notes On September 22, 2020, we issued $230.0 million principal amount of our 2020 Convertible Senior Notes, including the exercise in full