Clarivate subsidiary accepts $75M in 2028 notes
Only $75,000,000 of the $665,198,000 in tendered principal was accepted, and notes not accepted will be returned to tendering holders.
Rhea-AI Filing Summary
CLARIVATE PLC announced final results of its wholly owned subsidiary Clarivate Science Holdings Corporation’s cash tender offer for its 3.875% Senior Secured Notes due 2028, which sought up to $75,000,000 in aggregate principal. Of $665,198,000 in aggregate principal tendered, $75,000,000 was accepted, with an 11.3% proration factor. The notes had $825,000,000 in aggregate principal outstanding before the offer.
All offer conditions were satisfied or waived by the September 23, 2026 expiration. Settlement is set for September 25, 2026, when holders whose notes were accepted will also receive an Accrued Coupon Payment. Notes not accepted will be returned promptly to tendering holders.
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8-K Event Classification
2 items: 8.01, 9.01
2 items
Item 8.01
Other Events
Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Aggregate principal accepted: $75,000,000
Aggregate principal tendered: $665,198,000
Aggregate principal outstanding: $825,000,000
+1 more
4 metrics
Aggregate principal accepted
$75,000,000
3.875% Senior Secured Notes due 2028
Aggregate principal tendered
$665,198,000
3.875% Senior Secured Notes due 2028
Aggregate principal outstanding
$825,000,000
Before the tender offer
Proration factor
11.3%
Tender offer for 3.875% Senior Secured Notes due 2028
Key Terms
cash tender offer, Proration Factor, Accrued Coupon Payment, Senior Secured Notes
4 terms
cash tender offer financial
"previously announced cash tender offer"
A cash tender offer is a public proposal in which an individual or group offers to buy a set number of a company's shares directly from shareholders for a specified cash price during a limited time. It matters to investors because it gives a clear, immediate chance to sell shares at a known price — like a store offering to buy back items at a posted rate — and can affect the stock’s market price, ownership control and liquidity.
Proration Factor financial
"Proration Factor (3)"
A proration factor is the percentage used to scale back how many shares or rights each investor receives when demand exceeds the available supply, such as in an oversubscribed offering or dividend distribution. It matters because it determines the actual number of shares an investor will get and the effective price or value per share they end up with — like cutting a limited number of pizza slices among more people than there are slices, so everyone gets a proportional piece.
Accrued Coupon Payment financial
"will also receive an Accrued Coupon Payment"
An accrued coupon payment is the interest earned on a bond that has accumulated since the last payment date but has not yet been paid to the investor. Think of it like interest building up in a savings account that will be paid out later; it reflects the amount the investor is owed for holding the bond during that period. This figure matters because it helps accurately determine the bond’s current value and the investor’s true earnings.
Senior Secured Notes financial
"3.875% Senior Secured Notes due 2028"
Senior secured notes are loans a company sells to investors that are backed by specific assets and given first priority for repayment if the company defaults. Because they have a claim on collateral and are paid before other debts, they usually offer lower risk and correspondingly lower interest than unsecured debt; investors use them to judge how safe repayment and recovery of principal might be, like holding a mortgage instead of an unsecured credit card balance.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much of CLVT’s 2028 notes were accepted in the tender offer?
Clarivate Science Holdings Corporation accepted $75,000,000 in aggregate principal from the $665,198,000 tendered, with an 11.3% proration factor.
When did the CLVT tender offer expire, and when is settlement?
The offer expired at 5:00 p.m. New York City time on September 23, 2026, and the Settlement Date is September 25, 2026. Holders whose notes were accepted will also receive an Accrued Coupon Payment on that date.
What happens to CLVT notes tendered but not accepted?
Notes validly tendered but not accepted for purchase will be returned promptly to tendering holders in accordance with the Offer to Purchase. Withdrawal rights expired with the offer, except where additional withdrawal rights are required by law.
AI-generated analysis. How Rhea-AI works. Not financial advice.
