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Risks Relating to our Concurrent Public Offerings
−Removed: In June 2021, we completed an offering of $345 million of 0.375% convertible senior notes due 2026 (the “Notes”) and issued and sold $175 million of shares of our common stock (the “Issuance”).
+Added: In June 2021, we completed the offering of $345 million Notes and issued and sold $175 million of shares of our common stock (the “Issuance”).
The Notes and Issuance are collectively referred to as the “Offerings.” We used the net proceeds from the Offerings to fund approximately $457.3 million payable in connection with the cash-settled conversion of 150,000 shares of our previously outstanding Series A convertible preferred stock and the share-settled conversion of the remaining 50,000 shares of Series A convertible preferred stock into approximately 2.4 million shares of our common stock.
The indenture governing the Notes will not restrict us from incurring additional indebtedness, and the incurrence of the Notes and any additional indebtedness could limit the cash flow available for our operations, expose us to risks that could adversely affect our business, financial condition and results of operations and impair our ability to satisfy our obligations under the Notes.
−Removed: As of June 29, 2021, we had approximately $475.0 million in principal amount of consolidated indebtedness.
+Added: As of September 28, 2021, we had approximately $475.0 million in principal amount of consolidated indebtedness.
We incurred $345.0 million principal amount of additional indebtedness as a result of the offering of the Notes.
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We may also conduct future offerings of our common stock, preferred stock or other securities that are convertible into or exercisable for our common stock to finance our operations or fund acquisitions, or for other purposes.
−Removed: In addition, we have reserved approximately 4.2 million shares of common stock for grant under our The Cheesecake Factory Incorporated Stock Incentive Plan as of June 29, 2021.
+Added: In addition, we have reserved approximately 4.2 million shares of common stock for grant under our The Cheesecake Factory Incorporated Stock Incentive Plan as of September 28, 2021.
If we issue additional shares of our common stock or rights to acquire shares of our common stock, if any of our existing stockholders sells a substantial amount of our common stock, or if the market perceives that such issuances or sales may occur, then the trading price of our common stock may significantly decline.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.