Convertibles Calendar: $1.75 billion in the market

March 23

MP MATERIALS CORP.:

• $500 million five-year green convertible notes

• Greenshoe of $75 million

• Coupon of 0% to 0.25% and initial conversion premium of 25% to 30%

• Rule 144A

• Morgan Stanley & Co. LLC

• Non-callable for three years and then subject to a 130% hurdle

• Proceeds for future investment in or refinancing of eligible green projects

• Mountain Pass, Calif.-based producer of rare earth materials

VIACOMCBS INC.:

• $1 billion three-year series A mandatory convertible preferred stock

• Greenshoe of $150 million

• Dividend of 5.25% to 5.75% and initial conversion premium of 17.5% to 22.5%

• Rule 144A

• Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC

• Registered

• Concurrent offering of $2 billion class B common stock

• Proceeds from the combined offerings will be used for general corporate purposes, including investments in streaming

• New York-based global media and entertainment platform

March 24

ACCOLADE INC.:

• $250 million five-year convertible notes

• Greenshoe of $37.5 million

• Coupon of 0% to 0.5% and initial conversion premium of 30% to 35%

• Rule 144A

• Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, BofA Securities Inc., Piper Sandler Co., Credit Suisse Securities (USA) LLC, William Blair & Co. LLC, SVB Leerink LLC and Academy Securities Inc.

• Non-callable for three years and then subject to a 130% hurdle

• Proceeds to cover the cost of the call spread and for general corporate purposes

• Seattle-based health care technology company

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