SAN JOSE, Calif.–(BUSINESS WIRE)–Nutanix (NASDAQ: NTNX), a pacesetter in enterprise cloud computing, right now introduced that Bain Capital Personal Fairness will make an funding of $750 million in Convertible Senior Notes to help the Firm’s progress initiatives.
“Bain Capital Personal Fairness has deep expertise investing expertise and a powerful monitor file of serving to firms scale,” stated Dheeraj Pandey, Chairman, Co-Founder and CEO of Nutanix. “Bain Capital Personal Fairness’s funding represents a powerful vote of confidence in our place as a pacesetter within the hybrid cloud infrastructure (HCI) market and our profound tradition of buyer delight.”
“Nutanix is executing on a compelling imaginative and prescient for a differentiated hybrid cloud platform that gives versatile environments and is well paired with different cloud platforms,” commented David Humphrey, a Managing Director at Bain Capital Personal Fairness. “We stay up for working carefully with the Board and the administration crew to construct on Nutanix’s management place and understand its robust imaginative and prescient for the long run,” added Max de Groen, a Managing Director at Bain Capital Personal Fairness. In reference to the funding, Humphrey and de Groen will be part of the Nutanix Board of Administrators following the shut of the transaction, which is predicted to happen in late September 2020.
“We’re happy to ascertain this partnership with Bain Capital Personal Fairness and stay up for the contributions Dave and Max will make as new board members to construct on Nutanix’s success,” concluded Ravi Mhatre, Lead Unbiased Director.
Bain Capital Personal Fairness has deep expertise within the expertise sector, having made investments in a variety of firms together with Utilized Techniques, BMC Software program, CentralSquare Applied sciences, KIOXIA (previously often called Toshiba Reminiscence Corp.), NortonLifeLock Inc., Rocket Software program, Symantec, Viewpoint Development Software program, Vertafore, Waystar, and Zelis.
Below the phrases of the funding, Bain Capital Personal Fairness will buy $750 million in combination principal quantity Convertible Senior Notes (the “Notes”). The Notes can have an preliminary conversion worth of $27.75 per share of the Firm’s Class A Frequent Inventory, topic to customary anti-dilution and different changes. The preliminary conversion worth of $27.75 represents a 30.6% premium to Nutanix’s volume-weighted common worth (VWAP) over the trailing 5 (5) buying and selling day interval previous to Bain Capital Personal Fairness’s signing of the definitive settlement to accumulate the Notes. As well as, on the 12-month anniversary of the unique issuance of the Notes, relying on the achievement of economic milestones, the conversion worth could also be topic to an extra, one-time adjustment, to an quantity within the vary of $25.25 to $27.75 per share. The Notes will mature on September 15, 2026, until earlier repurchased, redeemed or transformed. The Notes bear 2.5% curiosity per 12 months, with such curiosity to be paid in form on Notes held by Bain Capital Personal Fairness via a rise within the principal quantity of the Notes. In reference to this transaction, Nutanix’s Board has approved the repurchase of as much as $125 million of its Class A typical shares which can be supposed to offset the dilutive impact of any shares the Firm could difficulty to settle the potential conversion of the Notes.
Further info relating to this announcement could also be present in a Kind 8-Ok that will likely be filed right now with the U.S. Securities and Change Fee.
In separate press releases issued right now, Nutanix introduced a CEO succession plan and monetary outcomes for the fiscal fourth quarter and financial 12 months 2020. These bulletins can be found on the Nutanix Investor Relations web site at ir.nutanix.com.
Goldman Sachs & Co. LLC is serving as unique monetary advisor to and sole placement agent for Nutanix.
Nutanix is a worldwide chief in cloud software program and a pioneer in hyperconverged infrastructure options, making computing invisible wherever. Organizations all over the world use Nutanix software program to leverage a single platform to handle any app at any location for his or her personal, hybrid and multicloud environments. Study extra at www.nutanix.com or observe us on Twitter @nutanix.
About Bain Capital Personal Fairness
Bain Capital Personal Fairness (www.baincapitalprivateequity.com) has partnered carefully with administration groups to supply the strategic assets that construct nice firms and assist them thrive since its founding in 1984. Bain Capital Personal Fairness’s world crew of roughly 240 funding professionals creates worth for its portfolio firms via its world platform and depth of experience in key vertical industries together with healthcare, shopper/retail, monetary and enterprise providers, industrials, and expertise, media and telecommunications. Bain Capital Personal Fairness has 20 workplaces on 4 continents. The agency has made major or add-on investments in additional than 875 firms since its inception. Along with personal fairness, Bain Capital Personal Fairness invests throughout asset lessons together with credit score, public fairness, enterprise capital and actual property, managing roughly $100 billion in whole and leveraging the agency’s shared platform to seize alternatives in strategic areas of focus.
This press launch incorporates categorical and implied forward-looking statements throughout the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Change Act of 1934, as amended, together with, however not restricted to, statements relating to: the funding by Bain Capital Personal Fairness within the Firm, as described herein, together with the Firm’s plans for using the proceeds and the timing thereof, in addition to any anticipated advantages thereof on the Firm’s management and governance construction, future monetary and working efficiency, capital place, market share, and progress prospects; the anticipated appointment of latest administrators to the Firm’s Board, together with the timing and advantages thereof; any potential changes to the conversion worth of the Notes; the Firm’s plans to repurchase inventory to offset the dilutive impact of the funding; and the Firm’s enterprise plans, initiatives and aims and its capability to execute such plans, initiatives and aims in a well timed method, in addition to the advantages and affect of such plans, initiatives and aims. These forward-looking statements will not be historic details and as an alternative are primarily based on the Firm’s present expectations, estimates, opinions, and beliefs. Consequently, you shouldn’t depend on these forward-looking statements. The accuracy of such forward-looking statements relies upon upon future occasions and includes dangers, uncertainties, and different elements, together with elements that could be past the Firm’s management, which will trigger these statements to be inaccurate and trigger its precise outcomes, efficiency or achievements to vary materially and adversely from these anticipated or implied by such statements, together with, amongst others: failure to efficiently shut or understand the total advantages of the above-described funding, or sudden difficulties or delays in efficiently closing or realizing the total advantages of such funding; failure to efficiently implement or understand the total advantages of, or sudden difficulties or delays in efficiently implementing or realizing the total advantages of, the Firm’s enterprise plans, initiatives and aims; failure to draw new and retain present end-customers; failure to well timed and efficiently meet the wants of the Firm’s prospects; delays in or lack of buyer or market acceptance of the Firm’s new merchandise, providers, product options or expertise; failure to satisfy expectations relating to the Firm’s platform, merchandise, providers and expertise; the timing, breadth, and affect of the COVID-19 pandemic, together with the actions the Firm has taken to handle working bills in response thereto, on the Firm’s enterprise, operations, and monetary outcomes, in addition to the affect of the pandemic on the Firm’s prospects, companions, and finish markets; the failure to construct robust management or handle the Firm’s enterprise and any future progress successfully; and different dangers detailed in Firm’s Quarterly Report on Kind 10-Q for the fiscal quarter ended April 30, 2020, filed with the U.S. Securities and Change Fee, or the SEC, on June 4, 2020. Further info may even be set forth in Firm’s Annual Report on Kind 10-Ok that will likely be filed for the fiscal 12 months ended July 31, 2020, which ought to be learn together with this press launch. The Firm’s SEC filings can be found on the Investor Relations part of the Firm’s web site at ir.nutanix.com and on the SEC’s ir.nutanix.com and on the SEC’s web site at www.sec.gov. These forward-looking statements communicate solely as of the date of this press launch and, besides as required by regulation, the Firm assumes no obligation, and expressly disclaims any obligation, to replace, alter or in any other case revise any of those forward-looking statements to mirror precise outcomes or subsequent occasions or circumstances.
© 2020 Nutanix, Inc. All rights reserved. Nutanix, the Nutanix emblem, and all Nutanix product and repair names talked about herein are registered logos or logos of Nutanix, Inc. in the US and different nations. All different model names talked about herein are for identification functions solely and will be the logos of their respective holder(s).