Copa S A : Announces Settlement of 4.50% Convertible Senior Notes Due 2025 - Form 6-K
September 20, 2023 at 06:05 am EDT
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Copa Holdings, S.A. Announces Settlement of 4.50% Convertible Senior Notes Due 2025
On September 19, 2023, Copa Holdings, S.A. (the "Company") announced that it had completed its previously announced redemption of its 4.50% Convertible Senior Notes due 2025 (the "Notes"). Since the Company's initial announcement of the redemption on July 14, 2023, holders of US$349,000,000.00 aggregate principal amount of Note converted their notes in accordance with the terms of the Notes. Outstanding Notes in the aggregate principal amount of US$1,000,000.00 that had not been converted by holders thereof were redeemed at a price equal to 100% of the principal amount of each Note called for redemption, payable in cash, plus accrued and unpaid interest on such Note to, but excluding, September 18, 2023 for such Note. The Notes that were converted were settled for US$349 million in cash, plus approximately 3.7 million shares.
As of September 19, 2023, the Company had approximately 31,773,072 shares of its Class A Common Stock outstanding, which reflects the issuance of an aggregate amount of 3,694,845 shares of its Class A Common Stock to holders of the Notes in settlement of conversion of US$349,000,000.00 in aggregate principal amount of Notes and the continued execution of the Company's share repurchase program. Total outstanding shares, which also include 10,938,125 of the Company's Class B shares, amount to approximately 42,711,197 as of September 19, 2023.
The Class A Common Stock of the Company delivered in connection with these conversions have been issued in reliance on the exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933, as amended.
COPA Holdings SA published this content on 20 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 September 2023 10:04:05 UTC.
Copa Holdings, S.A. is a provider of airline passenger and cargo service through its principal operating subsidiaries, Compania Panamena de Aviacion, S. A. (Copa Airlines) and AeroRepublica, S. A. (Copa Colombia). The Company operates through air transportation segment. Copa Airlines operates from its position located in the Republic of Panama. Copa Airlines provides international air transportation for passengers, cargo and mail, operating from its Panama City hub in the Republic of Panama. Copa Colombia provides service within Colombia and international flights from various cities in Colombia to Panama, Venezuela, Ecuador, Mexico, Cuba, Guatemala and Costa Rica. Copa Colombia provides domestic and international air transportation for passengers, cargo and mail with a point-to-point route network. Its subsidiary, Oval Financial Leasing, Ltd., controls the special purpose entities that have a beneficial interest in the majority of its fleet.
COPA HOLDINGS, S.A. 
