#USA #New York #Debt Securities #Clarivate #Cash Tender Offer

Clarivate Plc Initiates Cash Tender Offer

On September 17, 2026, Clarivate Plc, listed on NYSE under the ticker CLVT, declared the commencement of a cash tender offer targeting certain outstanding debt securities. This initiative aims to optimize the company's financial structure and is undertaken through its wholly-owned subsidiary, Clarivate Science Holdings Corporation.

Overview of the Tender Offer

The tender offer includes a proposal to purchase $
3.875% Senior Secured Notes
due in 2028. Notably, the total cash consideration for these notes is capped at $75 million. This cap serves as a safeguard, indicating a maximum limit on the aggregate principal amount of notes Clarivate is willing to buy back in this offer, as stated in the Offer to Purchase document dated September 17, 2026.

Key Details of the Offer

• - Notes Description: 3.875% Senior Secured Notes
• - Maturity Date: July 1, 2028
• - Total Principal Outstanding: $825 million
• - Reference Security: 4.125% US Treasury due June 30, 2028

The Offer aims to accept tenders on a prorated basis, which means that depending on the number of submissions, the principal amount of each note that will be accepted may be adjusted downward. Holders of the notes are required to be vigilant about the conditions and the details around the prorating process, as it can influence the amount of notes that are purchased from tendering holders.

Interest Payments and Considerations

Upon acceptance of the notes, owners will receive a calculated total consideration based on the fixed spread and the reference yield from the reference security, determined on September 23, 2026. This calculation will include accrued interest from the last payment date until the settlement date, expected to be September 25, 2026.

Conditions and Execution

It is crucial to highlight that the Offer is subject to certain conditions. In scenarios where these conditions are unmet, Clarivate reserves the right to reject tenders or prolong the acceptance for payment. The Offer currently does not have a required minimum aggregate principal amount for acceptance, although comply with minimum denomination requirements.

Key Contact Information

Clarivate has enlisted Citigroup Global Markets Inc. as the dealer manager for this tender offer. They will also provide assistance on inquiries related to the offer. Global Bondholder Services Corporation is designated to serve as the Tender and Information Agent, offering support for bondholders seeking clarity on the process.

For additional details or inquiries, interested parties can contact Citigroup at their dedicated numbers for toll-free or collect calls. Documents regarding the tender offer are accessible via a specific URL provided by Global Bondholder Services Corporation.

Conclusion

Clarivate's strategic cash tender offer signifies a pivotal moment for the company in enhancing its capital structure. Investors are encouraged to evaluate their options and act promptly to align with this offer, ensuring they are informed ahead of the deadlines outlined in the announcement. As the environment for corporate debt evolves, such initiatives reflect broader trends in managing financial obligations and shareholder value effectively.

For ongoing updates and opportunities related to the tender offer, stakeholders should continually monitor the communications from Clarivate and the respective agent services.