Company: CVLT
Filing Date: 2025-09-05
Form Type: 8-K
Source: 0001169561-25-000075
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Company: COMMVAULT SYSTEMS INC
Filing Date: 2025-09-05
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement

Indenture and Notes

On September 5, 2025, Commvault Systems, Inc. (the “ Company”) issued $900,000,000 aggregate principal amount of 0% Convertible Senior Notes due 2030 (the “ Notes”). The Notes were issued pursuant to an Indenture, dated September 5, 2025 (the “ Indenture”), between the Company and U. S. Bank Trust Company, National Association, as trustee (the “ Trustee”). Pursuant to the purchase agreement between the Company and the representatives of the initial purchasers of the Notes, the Company granted the initial purchasers an option to purchase, for settlement within a period of 11 days from, and including, the date the Notes are first issued, up to an additional $115,000,000 aggregate principal amount of Notes. On September 3, 2025, the initial purchasers exercised this option in full and the Notes issued on September 5, 2025 include the additional $115,000,000 aggregate principal amount of Notes.

The Company offered and sold the Notes to the initial purchasers in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the “ Securities Act”), and for resale by the initial purchasers to persons reasonably believed to be qualified institutional buyers pursuant to the exemption from registration provided by Rule 144A under the Securities Act.

The Notes are the Company’s senior, unsecured obligations and rank equally in right of payment with the Company’s existing and future senior, unsecured indebtedness, rank senior in right of payment to the Company’s existing and future indebtedness that is expressly subordinated to the Notes in right of payment, effectively subordinated to the Company’s existing and future secured indebtedness to the extent of the value of the collateral securing such indebtedness, including the Company’s revolving credit facility, and structurally subordinated to all indebtedness and other liabilities, including trade payables, and (to the extent the Company is not a holder thereof) preferred equity, if any, of the Company’s subsidiaries.

The Notes will mature on September 15, 2030, unless earlier converted, redeemed or repurchased. The Notes will not bear regular interest, and the principal amount of the Notes will not accrete. However, special interest and additional interest, if any, may accrue on the Notes at a combined rate per annum not exceeding 0