08:37 AM EDT, 03/26/2024 (MT Newswires) -- Cardlytics ( CDLX ) said Tuesday it plans to sell $150 million of convertible senior notes due 2029 in a private offering.

Initial purchases are expected to be granted the option to buy up to an additional $22.5 million of notes for settlement within 13 days from issue date, the company said.

Net proceeds will be used to repurchase a portion of Cardlytics' ( CDLX ) 1.00% convertible senior notes due 2025, while the remainder will be used for general corporate purposes, the company said.

Cardlytics' ( CDLX ) shares were down 14% in recent premarket activity.

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