Bandwidth Inc Stock Price, News & Analysis

Bandwidth (NASDAQ: BAND) has announced the pricing of $250 million in 0.50% Convertible Senior Notes due 2028 through a private offering. The offering, which includes a 13-day option for initial purchasers to buy an additional $37.5 million, is expected to settle on March 16, 2021. The company estimates net proceeds of approximately $242.3 million after expenses. Funds will be allocated for capped call transactions and general corporate purposes, including potential acquisitions. The initial conversion rate is 5.5781 shares per $1,000 principal amount, with a conversion price set at about $179.27.

Bandwidth Inc. (NASDAQ: BAND) plans to offer $250 million of Convertible Senior Notes due 2028 through a private offering to qualified institutional buyers. The Notes will be senior, unsecured obligations with interest payable semi-annually and may convert into cash, shares of Class A common stock, or a combination. Proceeds will fund capped call transactions and general corporate purposes, including working capital and potential acquisitions. The offering is subject to market conditions, and the Notes will be offered under Rule 144A of the Securities Act.

Bandwidth (NASDAQ: BAND), a leading enterprise cloud communications company, will participate in two upcoming virtual investor conferences. The first is the JMP Securities Technology Conference on March 1, 2021, featuring CEO David Morken and CFO Jeff Hoffman at 10:00am ET. The second is the Morgan Stanley Technology, Media and Telecom Conference on March 3, 2021, with CFO Jeff Hoffman at 10:15am ET. Bandwidth provides APIs for voice, messaging, and emergency services, utilized by major companies like Cisco and Google.

Bandwidth Inc. (NASDAQ: BAND) reported strong financial results for Q4 and the full year 2020, with total revenue reaching $113.0 million, an increase of 82% year-over-year. CPaaS revenue grew by 84% to $98.1 million. The company recorded a net loss of $(19.9) million, translating to $(0.81) per share. Non-GAAP net income was $3.5 million, or $0.13 per share. For FY 2020, total revenue was $343.1 million, a 48% increase, but net loss was $(44.0) million. Looking ahead, Q1 2021 CPaaS revenue is projected between $96.6 million and $97.6 million.

Bandwidth Inc. (NASDAQ: BAND) announced it will release its financial results for Q4 and the full year ended December 31, 2020, after market close on February 25, 2021. A conference call will be held at 5:00 p.m. ET on the same day to discuss these results with investors and analysts. Access details for the call and a live webcast can be found on the company’s Investor Relations page. An audio replay will be available after the call until March 4, 2021. Bandwidth is recognized for providing enterprise cloud communications services used by major companies like Google and Microsoft.

Bandwidth (NASDAQ: BAND) announced Brandon Asbill as its new General Counsel, effective January 18, 2021. With over 20 years of legal experience, Asbill previously worked at Red Hat, where he led teams on over 20 acquisitions totaling more than $1.5 billion and played a key role in IBM's $34 billion acquisition of Red Hat. His expertise in corporate governance, compliance, and data privacy is set to support Bandwidth's growth as an international company. Asbill replaces Chris Matton, who has departed from the firm.

Bandwidth Inc. (NASDAQ: BAND) announced the pricing of a secondary offering for 663,394 shares of its Class A common stock by VIP II Nominees Limited at $152.00 per share, set to close on November 5, 2020. This move will enable the Selling Stockholder to divest all its shares in the company. Morgan Stanley is serving as the underwriter for the offering. Investors are advised to review the prospectus filed with the SEC for more detailed information regarding the offering.

Bandwidth, a leading enterprise cloud communications company, announced a secondary offering of 663,394 shares of its Class A common stock by the Selling Stockholder, VIP II Nominees Limited. This offering will occur under the company's existing shelf registration filed with the SEC, with the Selling Stockholder receiving all proceeds. The stock was last priced at $157.85, and the offering is expected to close on November 5, 2020. Morgan Stanley will act as the underwriter. The company emphasizes that no shares are being sold by it, and investors should review the related prospectus for further information.

Bandwidth Inc. (NASDAQ: BAND) will participate in the Needham Virtual Security, Networking, and Communications Conference on November 17, 2020, at 3:45 p.m. ET. Jeff Hoffman, CFO, is scheduled to present at the event. Investors can access a live webcast and replay from the company's website. Bandwidth is recognized for its enterprise cloud communications, providing APIs for companies like Google and Microsoft, leveraging one of the largest nationwide IP voice networks.