Summary by Futu AI
Zillow Group has completed the redemption of its 1.375% Convertible Senior Notes due 2026, following the redemption notice issued on October 8, 2024. During the conversion period through December 17, 2024, holders of approximately $498 million aggregate principal amount of Notes elected to convert their holdings.In response to the conversions, the company delivered cash payments totaling approximately $498 million to cover the principal amount and fractional shares, along with issuing 4,526,527 shares of Zillow Group Class C capital stock. The share issuance was exempt from registration under Section 3(a)(9) of the Securities Act of 1933.On December 18, 2024, Zillow redeemed the remaining approximately $1 million in unconverted Notes at 100% of the principal amount, plus accrued and unpaid interest from September 1, 2024, to the redemption date.
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