Company: CDLX
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001666071-25-000126
Chunk: 177

Company: Cardlytics, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Item 8
Chunk 177
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 Convertible Senior Notes and 2020 Convertible Senior Notes (as defined below) of $2.0 million as of June 30, 2025 and December 31, 2024. During the three months ended June 30, 2025 and June 30, 2024, interest expense, net is reflected on the consolidated statements of operations consisted of interest expense of $2.4 million and $2.4 million and interest income of $0.4 million and $0.9 million, respectively. During the six months ended June 30, 2025 and June 30, 2024, interest expense, net is reflected on the consolidated statements of operations consisted of interest expense of $4.7 million and $4.2 million, respectively, and interest income of $1.0 million and $1.8 million, respectively.2024 Convertible Senior NotesOn April 1, 2024, we issued $172.5 million principal amount of our 2024 Convertible Senior Notes in a private offering, including the exercise in full of the initial purchasers' option to purchase up to an additional $22.5 million principal amount of the 2024 Convertible Senior Notes. The net proceeds from this offering were $166.8 million, after deducting the initial purchasers' discounts, commissions and the offering expense payable by us. The 2024 Convertible Senior Notes were issued pursuant to, and are governed by, an indenture, dated as of April 1, 2024 (the "2024 Indenture"), between us and U.S. Bank Trust Company, National Association, as Trustee.The 2024 Convertible Senior Notes will accrue interest at a rate of 4.25% per annum, payable semi-annually in arrears on April 1 and October 1 of each year, beginning on October 1, 2024. The 2024 Convertible Senior Notes will mature on April 1, 2029, unless earlier converted or repurchased by us. Before January 2, 2029, noteholders will have the right to convert their 2024 Convertible Senior Notes only in the following circumstances: (i) during any calendar quarter (and only during such calendar quarter) commencing after the calendar quarter ending on June 30, 2024, if the last reported sale price per share of our common stock, exceeds 130% of the conversion price for each of at least