JWCA advises PERFICIENT on its $144 million DEBUT convertible BOND AND CALL SPREAD

SEPTEMBER 2018 | read press release

Transaction Background

Perficient was interested in raising convertible debt to repurchase shares, refinance its credit facility and raise capital for general corporate purposes.  After careful consideration, Perficient elected to hire JWCA as its financial advisor because of JWCA’s depth of experience in the convertible market

JWCA was instrumental in helping Perficient across all aspects of its execution, including:

• Bank relationship management

• Syndicate selection, economics and fees

• Capped call vs call spread

• Change of control and make-whole mechanics

• Convertible and call spread accounting

• Tax integration of call spread

JWCA provided advice, support and analysis throughout the negotiation and execution process

Results

Perficient’s convertible issuance was well-received by investors

• PRFT stock was up 4.6% on the day (reaching an all-time high), despite a down market (NASDAQ down 1.2%)

Call spread documentation and negotiation process produced meaningful savings for Perficient