Box Inc - Ordinary Shares - Class A

NYSE:BOX   10:10:04 AM EDT
+0.17 (+0.78%)
Officer Changes, Other Pre-Announcement

Box Announces Strategic Partnership With KKR, Including $500 Million KKR-Led Investment

Published: 04/08/2021 11:07 GMT
Box Inc - Ordinary Shares - Class A (BOX) - Box Announces Strategic Partnership With Kkr, Including $500 Million Kkr-led Investment.
Box Inc - Company Intends to Repurchase Up to $500 Million of Common Stock Through Self-tender Offer.
Box Inc - Kkr's Head of Americas Technology Private Equity, John Park, to Join Box Board.
Box Inc - Self-tender is Expected to Commence After Box Releases Its Fiscal Q1 Financial Results in May 2021.
Box Inc - Box's Board Will Be Expanded to Ten Directors.
Box Inc - Bethany Mayer Will Be Appointed As Chair of Board of Directors, Effective May 1, 2021.
Box Inc - Box is Committed to Achieving a Revenue Growth Rate Between 12-16%, With Operating Margins of Between 23-27%, by Fiscal 2024.
Box Inc - Kkr Will Lead Purchase of $500 Million of Convertible Preferred Stock.
Box Inc - the Preferred Stock Will Be Convertible Into Shares of Box Common Stock at a Conversion Price of $27.00 per Share.
Box Inc - Currently Expects Kkr Investment to Close in May 2021.