ChargePoint Holdings Completes Privately Negotiated Exchange Of $329M Of Convertible Senior Notes Due 2028; Reduces Total Outstanding Debt By $172M, More Than 50%

Author: Benzinga Newsdesk | November 18, 2025 04:08pm

• Reduces total outstanding debt by $172 million, more than 50%
• Removes 125% change of control repayment premium of approximately $82 million
• Reduces annual interest expense by approximately $10 million
• Extends new debt maturity from 2028 to 2030

ChargePoint Holdings, Inc. (NYSE:CHPT) ("ChargePoint") a leading provider of networked solutions for charging electric vehicles, today announced the completion of a privately negotiated exchange (the "Exchange") of $329 million of its Convertible Senior Notes due 2028 (the "2028 Notes"), resulting in a near term reduction of its total outstanding debt by $172 million, or more than 50%. As part of the Exchange, ChargePoint's New Loan (defined below) extends maturity from 2028 to 2030 and reduces annual interest expenses by approximately $10 million. ChargePoint estimates it obtained a discount of approximately $107 million due to the Exchange.

Transaction Details

Pursuant to the Exchange, ChargePoint exchanged $329 million of its 2028 Notes for consideration of approximately $222 million, comprised of:

• $157 million1 long-term senior secured loan (the "New Loan")
• Up to $55 million2 cash paid within two quarters subsequent to closing
• Approximately $10 million3 of estimated value of warrants (exercisable for 1,671,000 shares of common stock at an exercise price of $25.00 per share)

The total consideration of approximately $222 million issued by ChargePoint in the Exchange retires $329 million of outstanding capitalized principal amount of debt, resulting in a discount of approximately $107 million or 33% vs the original capitalized principal amount of the 2028 Notes exchanged.

Posted In: CHPT