Mitigating Dilution associated with Convert Issuances Through Derivatives

Please join Mayer Brown partners, Anna Pinedo and Remmelt Reigersman, and Founder and CEO of J. Wood Capital Advisors, Jason Wood, and Managing Director at J. Wood Capital Advisors, Greg Batista, as they address the various strategies that issuers deploy to mitigate equity dilution associated with the issuance of convertible notes, including call spreads, capped calls, and related structures. Specifically, they will cover:

• An overview of convertible notes and related issuer equity derivatives, including recent market trends;
• Is it worth it? The pros/cons of entering into a call spread or capped call;
• Differences between call spreads and capped calls;
• Tax considerations, including transaction integration and implications;
• Securities and disclosure considerations; and
• Unwinding a call spread or capped call in connection with a conversion, exchange, or repurchase of the convertible notes or other liability management transaction or in connection with M&A.

Guest Speakers: 
Jason Wood, J. Wood Capital Advisors
Greg Batista, J. Wood Capital Advisors

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