Company: BL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001666134-25-000003
Chunk: 153

Company: BLACKLINE, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 153
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Liability:Principal$230,196 $1,150,000 Unamortized debt issuance costs(1,027)(9,392)Net carrying amount$229,169 $1,140,608 The effective interest rate of the 2026 Notes, excluding the conversion option, remained unchanged at 0.37% for December 31, 2024 and 2023.The Company carries the 2026 Notes at face value less unamortized debt issuance costs on the accompanying consolidated balance sheets and presents the fair value for disclosure purposes only. The estimated fair value was determined based on the actual bids and offers of the 2026 Notes in an over-the-counter market on the last trading day of the period. The estimated fair value of the 2026 Notes, based on a market approach at December 31, 2024, was approximately $212.9 million, which represents a Level 2 valuation. During the years ended December 31, 2024 and 2023, the Company recognized $2.2 million and $4.2 million of interest expense related to the amortization of debt issuance costs, respectively.The 2026 Notes were not convertible at December 31, 2024.2024 NotesIn August 2019, the Company issued the 2024 Notes for aggregate gross proceeds of $500.0 million, which included the initial purchasers’ option of $65.0 million aggregate principal amount, in a private placement in reliance on Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”). In connection with the issuance of the 2026 Notes (as defined above) in March 2021, the Company used approximately $432.2 million of the net proceeds to repurchase $250.0 million aggregate principal amount of the 2024 Notes.On August 1, 2024, the scheduled maturity date, the Company repaid the total outstanding $250.0 million aggregate principal amount and related $0.2 million of accrued interest pursuant to the terms of the 2024 Notes with cash on hand. The 2024 Notes consisted of the following (in thousands):December 31,2023Liability:Principal$250,000 Unamortized debt issuance costs(767)Net carrying amount(1)$249,233 (1) Net carrying amount as of December 31, 2023 presented within total