Company: CDLX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001666071-25-000159
Chunk: 182

Company: Cardlytics, Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 182
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 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):September 30, 2025December 31, 2024Principal$172,500 $172,500 Minus:Unamortized issuance costs(3,930)$(4,771)Net carrying amount$168,570 $167,729 Interest expense recognized related to the 2024 Convertible Senior Notes is as follows (in thousands):Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Contractual interest expense (due in cash)$1,833 $1,833 $5,498 $3,645 Amortization of debt issuance costs281 281 842 558 Total interest expense related to the 2024 Convertible Senior Notes$2,114 $2,114 $6,340 $4,203 Effective interest rate4.90 %4.90 %4.90 %4.90 %2020 Convertible Senior NotesOn September 22, 2020, we issued convertible senior notes with an aggregate principal amount of $230.0 million bearing an interest rate of 1.00% due in September 2025 (the "2020 Convertible Senior Notes"), including the exercise in full of the initial purchasers' option to purchase up to an additional $30.0 million principal amount of the 2020 Convertible Senior Notes. The 2020 Convertible Senior Notes were issued pursuant to an indenture, dated September 22, 2020 (the "2020 Indenture"), between us and U.S. Bank National Association, as trustee.In April 2024, we used approximately $169.3 million of net proceeds from the 2024 Convertible Senior Notes offering and cash on hand to repurchase for cash approximately $183.9 million in aggregate principal amount of the 2020 Convertible Senior Notes, together with accrued and unpaid interest, in privately negotiated transactions below par and entered into concurrently with the pricing of the offering through one of the initial purchasers or one of its affiliates, as our agents. As a result of the extinguishment of the