Slack Technologies Inc. said it plans to sell $600 million worth of convertible senior notes, due 2025. The busineess communication company said the notes will be convertible to cash, shares of common stock, or a combination of both, at the option of the holder. The note holders will have the right to require Slack to repurchase all or a portion of the notes at 100% of their principal amount, plus accrued interest, "upon the occurence of certain events." The stock, which rose 1.4% in premarket trading, has gained 7.9% year to date through Friday, while the S&P 500 has dropped 23.0%.
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