Pagerduty Inc (PD)

Shares of Pager Duty, Inc. (PD) dropped by 1.74% from $21.83 to $21.45 in the trading on Tuesday, October 10, 2023. The reason why PD stock down is due to the announcement of proposing private placement of $350million of convertible senior notes. The company may also grant initial purchasers an option to acquire an additional $52.5 million in notes. These notes will constitute senior unsecured obligations, with their terms to be determined later. PagerDuty plans to use the proceeds from this placement for various purposes, including capped call transactions, repurchasing existing notes, buying shares of its common stock, and addressing general corporate needs, which may include acquisitions. The company's 52-week trading range is between $19.51 and $35.33. The proposed issuance of $350 million in convertible senior notes due in 2028 is aimed at covering the cost of buying back notes due in 2025.

Shares of PagerDuty, Inc. (PD) were down 7.73% to $23.77. PagerDuty posted upbeat second-quarter results, but issued weak earnings forecast for the current quarter.

https://www.benzinga.com/news/earnings/23/09/34180841/crude-oil-surges-2-pagerduty-shares-slide