Pitney Bowes Boosts Buybacks, Completes $230 Million Convertible Notes Offering

Group 1 - Pitney Bowes Inc. has completed a $230 million offering of 1.50% Convertible Senior Notes due in 2030, raising approximately $221.4 million after expenses [3] - The company has increased its share repurchase authorization to $400 million after exhausting its previous $150 million limit, indicating confidence in its financial stability [2] - Pitney Bowes has raised its dividend for the third consecutive quarter, reflecting positive financial performance [2] Group 2 - The revenue guidance has been reduced by $50 million due to customer losses in the Presort business [3] - Institutional interest remains strong, with 33 hedge funds holding stakes in the company, and a significant upside potential of 38.44% estimated by an analyst [4] - Founded in 1920, Pitney Bowes is a technology company in the mailing industry, providing a range of business services including global e-commerce and shipping [5]