Financial Performance - The company's net investment income and adjusted net investment income per share for Q3 2025 was $040, resulting in an annualized net investment income yield on book value of 125%[11] - The company's earnings per share for Q3 2025 was $022[11] - The company's net asset value (NAV) per share decreased by 21% to $1275 as of September 30, 2025, from $1302 as of June 30, 2025[11] - The company declared a Q4 2025 base dividend of $032 per share[11] - The company also declared a Q3 2025 supplemental dividend of $004 per share[11] Portfolio Composition and Investment Activity - As of September 30, 2025, the company's total investments at fair value and commitments were $38332 million, invested in 171 portfolio companies across 40 industries, with 982% in senior secured debt, including 967% in first lien investments[11] - The company had new investment commitments of approximately $4706 million, of which $2669 million were funded[11] - Sales and repayments activity totaled $3744 million, resulting in net funded investment activity of $(598) million[11] - As of September 30, 2025, investments on non-accrual status amounted to 15% and 25% of the total investment portfolio at fair value and amortized cost, respectively[11] Debt and Leverage - The company's ending net debt-to-equity ratio was 117x as of September 30, 2025, compared to 112x as of June 30, 2025[11] - As of September 30, 2025, 702% of the company's approximately $18530 million aggregate principal amount of debt outstanding was comprised of unsecured debt and 298% was comprised of secured debt[11]

Core Viewpoint - Groupon, Inc. has announced a financing transaction involving the exchange of existing convertible senior notes for newly issued convertible senior notes, totaling $244 million in principal amount [1][2]. Group 1: Financing Details - Groupon will exchange $20 million of its 1.125% Convertible Senior Notes due 2026 for $20 million of newly issued 4.875% Convertible Senior Notes due 2030 [1]. - Additionally, Groupon will exchange $150 million of its 6.25% Convertible Senior Secured Notes due 2027 for $224.071 million of the 2030 Notes [1][2]. - The total principal amount of the 2030 Notes expected to be issued is $244.071 million [2]. Group 2: Terms of the 2030 Notes - The 2030 Notes will be senior unsecured obligations and will accrue interest payable semiannually [2]. - The initial conversion rate is set at 18.5031 shares of common stock per $1,000 principal amount, equating to an initial conversion price of approximately $54.04 per share, which is a 50% premium over the Nasdaq closing price on June 17, 2025 [3]. - Groupon has the option to redeem the 2030 Notes for cash starting July 2, 2028, under certain conditions [4]. Group 3: Conversion Conditions - Prior to March 31, 2030, the 2030 Notes will be convertible only under specific conditions related to the stock price performance [5]. - After March 31, 2030, holders can convert their notes regardless of prior conditions [5]. - In the event of a "fundamental change," holders may require Groupon to repurchase the notes at a specified price [6][7]. Group 4: Proposed Amendments - Approximately 76% of the holders of the 2027 Notes have agreed to vote in favor of proposed amendments that will remove most restrictive covenants and release collateral securing the obligations under the 2027 Notes [8].