Friday, March 19, 2021

Magnite Raises $400M In Convertible Note Offering

Los Angeles-based advertising technology developer Magnite--formerly known as Rubicon Project--said it raised $400M in a convertible note offering. The company said the 0.25% convertible senior notes due 2026 included the exercise of an option to purchase $50M of additional notes to its initial purchasers. Magnite had originally said it would raise $350M in the convertible note offering. Magnite is currently in the process of a $1.17 billion acquisition of another advertising technology company, SpotX.Magnite trades on the Nasdaq as MGNI.