NEW
YORK, Oct. 16, 2024 /PRNewswire/ -- MongoDB,
Inc. ("MongoDB") (Nasdaq: MDB), the leading, modern general purpose
database platform, today announced that it issued a notice of
redemption for all $1,149,972,000
aggregate principal amount outstanding of its 0.25% convertible
senior notes due 2026 (the "Notes"). The redemption date will
be December 16, 2024. The
redemption price with respect to any redeemed note will equal 100%
of the principal amount thereof, plus accrued and unpaid interest,
from July 15, 2024, to, but excluding
the redemption date. On the redemption date, the redemption
price will become due and payable upon each note to be redeemed and
interest thereon will cease to accrue on and after the redemption
date.
The notes may be converted by holders at any time before
5:00 p.m. (New York City time) on December 13, 2024 (the "conversion
deadline"). The conversion rate for notes converted after
today and through the conversion deadline is equal to 4.9260
shares of common stock of MongoDB, par value $0.001 per share (the "Common Stock"), per
$1,000 principal amount of the notes,
which includes an increase to the conversion rate of 0.1911 shares
of Common Stock per $1,000 principal
amount of the notes as a result of the notes being called for
redemption. MongoDB has elected to settle any conversions of
the notes during the redemption period by delivering shares of its
Common Stock, together with cash, if applicable, in lieu of
delivering any fractional share of Common Stock (physical
settlement).
About MongoDB
Headquartered in New York,
MongoDB's mission is to empower innovators to create, transform,
and disrupt industries by unleashing the power of software and
data. Built by developers, for developers, MongoDB's developer data
platform is a database with an integrated set of related services
that allow development teams to address the growing requirements
for today's wide variety of modern applications, all in a unified
and consistent user experience. MongoDB has tens of thousands of
customers in over 100 countries. The MongoDB database platform has
been downloaded hundreds of millions of times since 2007, and there
have been millions of builders trained through MongoDB University
courses.
Forward Looking Statements
This press release includes certain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, or the Securities Act, and Section 21E of the Securities
Exchange Act of 1934, as amended, including statements concerning
the planned redemption of the notes. These forward-looking
statements include, but are not limited to, plans, objectives,
expectations and intentions and other statements contained in this
press release that are not historical facts and statements
identified by words such as "anticipate," "believe," "continue,"
"could," "estimate," "expect," "intend," "may," "plan," "project,"
"will," "would" or the negative or plural of these words or similar
expressions or variations. These forward-looking statements reflect
our current views about our plans, intentions, expectations,
strategies and prospects, which are based on the information
currently available to us and on assumptions we have made. Although
we believe that our plans, intentions, expectations, strategies and
prospects as reflected in or suggested by those forward-looking
statements are reasonable, we can give no assurance that the plans,
intentions, expectations or strategies will be attained or
achieved. Furthermore, actual results may differ materially from
those described in the forward-looking statements and are subject
to a variety of assumptions, uncertainties, risks and factors that
are beyond our control including, without limitation: risks
associated with executing the redemption of the notes and events
that could impact the terms of the redemption, as well as those
described in MongoDB's filings with the United States Securities
and Exchange Commission ("SEC"), including under the caption "Risk
Factors" in our Quarterly Report on Form 10-Q for the quarter
ended July 31, 2024, filed with the SEC on August 30,
2024, and other filings and reports that we may file from time to
time with the SEC. Except as required by law, we undertake no duty
or obligation to update any forward-looking statements contained in
this press release as a result of new information, future events,
changes in expectations or otherwise.
Investor Relations
Brian
Denyeau
ICR for MongoDB
646-277-1251
ir@mongodb.com
Media Relations
MongoDB
press@mongodb.com
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SOURCE MongoDB, Inc.