The initial conversion price of the notes represents a premium of approximately 45% over the closing price of fuboTV’s common stock on January 28, 2021. The initial conversion rate will be 17.3063 shares of fuboTV’s common stock per $1,000 principal amount of notes (equivalent to an initial conversion price of approximately $57.78 per share). The notes will mature on February 15, 2026, unless earlier converted, repurchased or redeemed. The notes will be general unsecured obligations of fuboTV and will accrue interest payable semiannually in arrears on February 15 and August 15 of each year, beginning on August 15, 2021, at a rate of 3.25% per year. fuboTV also granted the initial purchaser a 13-day option to purchase up to an additional $52.5 million aggregate principal amount of notes. The offering is expected to close on February 2, 2021, subject to customary closing conditions. (“fuboTV”) (NYSE: FUBO), the leading sports-first live TV streaming platform, today announced the pricing of $350 million aggregate principal amount of 3.25% convertible senior notes due 2026 (the “notes”) in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”).
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