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  "documentTitle": "SmileDirectClub | Investor Presentation Deck | 26 slides",
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  "presentationDate": "2021-05-01 00:00:00",
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  "notes": "The slide details a specific financial transaction (convertible notes) and its hedging strategy (capped call).",
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      "text": "This convertible debt financing strengthens our balance sheet, with minimal equity dilution, and fortifies us against a protracted COVID environment, while also enabling to us to comfortably execute our growth strategy over the coming years, while also investing in R&D, innovation, and other business development opportunities.",
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      "text": "Deal launched at a size of $350 million and was later upsized to $650 million due to strong institutional demand. In addition, the bookrunners exercised their full greenshoe option to purchase $97.5 million convertible notes, bringing the full offering size to $747.5 million. Notes were priced with a 0% coupon, and a 40% conversion premium. Notes mature February 2026. In conjunction, SDC entered into a capped call that will fully offset any potential equity dilution from conversion of the notes.",
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      "text": "Convertible Debt Key Terms: Base Deal Size $650M, Green Shoe $97.5M, Coupon 0.00%, Conversion Premium 40%/$18.06, Settlement Feb 9 2021, Maturity Feb 1 2026. Capped Call Key Terms: Lower Strike 40%/$18.06, Upper Strike 100%/$25.80, Net Premium 9.3%, Effective Rate ~2.0%",
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      "text": "Convertible Debt Offering.",
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