Clarivate Initiates Cash Tender Offer for Certain Outstanding Debt Securities
Clarivate Plc (NYSE: CLVT) has announced that its subsidiary, Clarivate Science Holdings Corporation, is commencing a cash tender offer to repurchase up to $75 million in principal amount of its outstanding 3.875% Senior Secured Notes due 2028. The tender will be subject to proration if the total valid tenders exceed this cap and may be adjusted by no more than 2%. Clarivate has set a deadline for the offer, which is scheduled to expire on September 23, 2026 at 5:00 p.m., New York City time. The purchase price will depend on the Fixed Spread plus the Reference Yield based on U.S. Treasury rates as of the Price Determination Date. The tender process allows holders to withdraw their tenders before a specified deadline and includes provisions for proration if demand exceeds available funds. Accrued interest from the last payment date up until settlement will also be paid out in addition to the Total Consideration.
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