Zip seals $120m delta placement alongside convertible bond – The Australian Financial Review

It was a busy night for buy now, pay later outfit Zip Co and its bankers on Wednesday.
Zip Co founders Peter Gray and Larry Diamond. Louie Douvis
In addition to its $400 million convertible bond raising first revealed by this column on Wednesday afternoon the company was also in the market with a $120 million-odd delta placement, to facilitate some of the hedging associated with the notes.
The $120 million deal closed on Wednesday night, and was done at $9.18 a share, or a 4.5 per cent discount…

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