Connect with us

Technology

MongoDB Announces Redemption of All of Its Outstanding Convertible Senior Notes due 2026

Published

on

NEW YORK, Oct. 16, 2024 /PRNewswire/ — MongoDB, Inc. (“MongoDB”) (Nasdaq: MDB), the leading, modern general purpose database platform, today announced that it issued a notice of redemption for all $1,149,972,000 aggregate principal amount outstanding of its 0.25% convertible senior notes due 2026 (the “Notes”).  The redemption date will be December 16, 2024.  The redemption price with respect to any redeemed note will equal 100% of the principal amount thereof, plus accrued and unpaid interest, from July 15, 2024, to, but excluding the redemption date.  On the redemption date, the redemption price will become due and payable upon each note to be redeemed and interest thereon will cease to accrue on and after the redemption date.

The notes may be converted by holders at any time before 5:00 p.m. (New York City time) on December 13, 2024 (the “conversion deadline”).  The conversion rate for notes converted after today and through the conversion deadline is equal to 4.9260  shares of common stock of MongoDB, par value $0.001 per share (the “Common Stock”), per $1,000 principal amount of the notes, which includes an increase to the conversion rate of 0.1911 shares of Common Stock per $1,000 principal amount of the notes as a result of the notes being called for redemption.  MongoDB has elected to settle any conversions of the notes during the redemption period by delivering shares of its Common Stock, together with cash, if applicable, in lieu of delivering any fractional share of Common Stock (physical settlement).

About MongoDB

Headquartered in New York, MongoDB’s mission is to empower innovators to create, transform, and disrupt industries by unleashing the power of software and data. Built by developers, for developers, MongoDB’s developer data platform is a database with an integrated set of related services that allow development teams to address the growing requirements for today’s wide variety of modern applications, all in a unified and consistent user experience. MongoDB has tens of thousands of customers in over 100 countries. The MongoDB database platform has been downloaded hundreds of millions of times since 2007, and there have been millions of builders trained through MongoDB University courses.

Forward Looking Statements

This press release includes certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning the planned redemption of the notes. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “will,” “would” or the negative or plural of these words or similar expressions or variations. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control including, without limitation: risks associated with executing the redemption of the notes and events that could impact the terms of the redemption, as well as those described in MongoDB’s filings with the United States Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended July 31, 2024, filed with the SEC on August 30, 2024, and other filings and reports that we may file from time to time with the SEC. Except as required by law, we undertake no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events, changes in expectations or otherwise.   

Investor Relations
Brian Denyeau
ICR for MongoDB
646-277-1251
ir@mongodb.com

Media Relations
MongoDB
press@mongodb.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/mongodb-announces-redemption-of-all-of-its-outstanding-convertible-senior-notes-due-2026-302278502.html

SOURCE MongoDB, Inc.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

China’s Aima Electric Vehicle’s flagship store in Pakistan has officially opened, advancing clean energy and empowering China-Pakistan cooperation under the Belt and Road Initiative.

Published

on

By

LAHORE, Pakistan, Oct. 17, 2024 /PRNewswire/ — Aima, a leading Chinese electric two-wheeler brand, grandly opened its flagship store in Lahore, Pakistan. Important guests including IRFAN QADIR (CEO SIWA INDUSTRIES & Qadir Group of Companies), Imran Qadir (MD SIWA INDUSTRIES), and some good dealers, along with journalists from multiple mainstream media outlets, attended the opening ceremony.

The opening ceremony also invited well-known local internet opinion leaders such as Bike Mate PK, TALOOT ARTS, and Pak Vloggers. At the ceremony, Aima presented an electric vehicle to Nadeem Arshad, the Pakistani athlete who won the gold medal in the men’s javelin throw at the Paris Olympics, which sparked widespread attention and discussion on local social media.

The opening of this Aima Electric Vehicle flagship store, located at Building No. 596 A Block, Faisal town, Mulana Shaukat Ali Road Lahore, marks a significant step forward in Aima’s global strategy. Over the years, Aima electric vehicles have frequently appeared at top overseas auto shows, and the company has gradually established overseas branches, overseas factories, and plans to establish overseas R&D centers. By actively localizing its operations, conducting in-depth research on local laws, regulations and user habits, and through technological innovation to further improve the technology and safety of its exported products, Aima is steadily and confidently expanding its global market presence.

In recent years, bilateral practical cooperation between China and Pakistan has steadily progressed, and high-quality joint construction of the China-Pakistan Economic Corridor has yielded fruitful results. As a highly flexible new energy carrier, electric two-wheelers have played an increasingly important role in the global development of the clean energy industry. Aima’s successful entry into Pakistan further demonstrates the strength and influence of China’s green technology travel, positively empowering the China-Pakistan Economic Corridor, a flagship project of the Belt and Road Initiative, with green economy.

In the future, as more Aima electric vehicle specialty stores open, Aima is expected to play a more important role in the development of Pakistan’s clean energy industry, driving energy cooperation of the China-Pakistan Economic Corridor deep into the “capillaries” of Pakistani society and people’s livelihood. Under the framework of the Belt and Road Initiative, with green travel as a lever, Aima will help Pakistan grasp more sustainable development opportunities in the field of clean energy. Hand in hand, China and Pakistan are striving for a cleaner and more promising future.

View original content to download multimedia:https://www.prnewswire.com/apac/news-releases/chinas-aima-electric-vehicles-flagship-store-in-pakistan-has-officially-opened-advancing-clean-energy-and-empowering-china-pakistan-cooperation-under-the-belt-and-road-initiative-302278633.html

SOURCE AIMA Technology

Continue Reading

Technology

KLEVV LAUNCHES ITS FIRST HIGH-PERFORMANCE STANDARD CU-DIMM AND CSO-DIMM DDR5 MEMORY

Published

on

By

OPTIMIZED FOR SUPERIOR PERFORMANCE WITH INTEL 15TH GEN CORE ULTRA PROCESSORS AND Z890 PLATFORM

HONG KONG, Oct. 17, 2024 /PRNewswire/ — KLEVV, the leading consumer memory and storage brand introduced by Essencore, today announces its first-ever CU-DIMM & CSO-DIMM memory modules, which work seamlessly with the latest Intel® Core™ Ultra (Series 2) “Arrow Lake-S” Processors/ Z890 platform to unleash the true DDR5 performance.

Groundbreaking CKD Technology for Revolutionary Performance

KLEVV’s next-generation DDR5 memory lineup receives a substantial performance boost with the integration of advanced Client Clock Driver (CKD) technology. Incorporated via a small integrated circuit (IC) directly on the DIMM, CKD IC enhances the module’s speed and efficiency for both desktop and laptop applications. By regenerating the memory chips’ clock signal, it improves stability, supports higher operating frequencies, and minimizes electrical interference and signal degradation—pushing the boundaries of memory performance.

High-Efficiency Performance, Precision Engineering and Seamless Compatibility

Designed for both performance desktop and laptop systems, KLEVV’s new Standard CU-DIMM and CSO-DIMM memory modules combine the brand’s renowned quality with cutting-edge DDR5 technology, making them ideal for both casual and professional users. Leveraging the innovative CKD architecture, these modules deliver exceptional stability and reliability, even at high speeds, effectively mitigating electrical interference that could otherwise hinder performance. With this advanced design, users can count on smooth, efficient operation, even under heavy workloads.

Unmatched Synergy with Intel 15th Processors 

Fully compliant with JEDEC specifications, KLEVV’s CU-DIMM and CSO-DIMM modules are crafted with precision to ensure seamless compatibility with Intel’s latest 15th-gen Arrow Lake processors. Available in capacities of 16GB, 24GB, 32GB, and 48GB per DIMM, they feature a remarkable clock speed of 6,400 MT/s and latency timings of CL 52-52-52-103 at 1.1V. These speeds are equal to transferring 10(ten) full-HD movies in just one second, illustrating their astounding speed and efficiency. Users should expect this groundbreaking technology on KLEVV’s future products to pave the way for faster and more efficient computing solutions.

Warranty and Availability

KLEVV’S new Standard CUDIMM and CSODIMM DDR5 memory modules come with a limited lifetime peace of mind warranty and will be available in Q4. KLEVV products are distributed by Integral Memory plc in the United Kingdom/ France/ Spain/ Germany. Consumers may visit Amazon sites for online purchases.

About ESSENCORE

Established in 2014, ESSENCORE Limited strives to become the world’s leading vendor of DRAM modules and NAND flash application products. With a mission to “Change the world and be a leader in semiconductor distribution,” ESSENCORE’s business strategy focuses on adopting the latest technologies to differentiate itself from competitors, delivering specialized memory products, and offering a diverse product portfolio to ensure customers are always competition-ready. 

ABOUT KLEVV

KLEVV, is a premium brand of ESSENCORE, the major Module and NAND Flash application product vendor. The KLEVV range focused on superior gaming memory modules and solid state drives. KLEVV is committed to delivering world-class products with first-rate quality, and all products are engineered for enthusiasts who are pursuing the best things in life. KLEVV memory/SSD have been recognized by Germany’s Red Dot Design Award and iF Design Award for its innovative product designs. For more information, please visit www.klevv.com.

Photo – https://mma.prnewswire.com/media/2532137/Klevv.jpg

View original content:https://www.prnewswire.co.uk/news-releases/klevv-launches-its-first-high-performance-standard-cu-dimm-and-cso-dimm-ddr5-memory-302277939.html

Continue Reading

Technology

Introducing The Gorilla Fund: Transforming Land Transactions with a Mission for Environmental Stewardship

Published

on

By

AUSTIN, Texas, Oct. 16, 2024 /PRNewswire/ — The Gorilla Fund, a new and innovative land company, is launching with a mission to revolutionize land transactions while actively contributing to environmental preservation. Founded by seasoned entrepreneur and adventurer Paul Emery, The Gorilla Fund aims to make buying and selling land simple, transparent, and meaningful.

Transforming land investment while planting roots for a greener tomorrow – 1,000 trees at a time.

“At The Gorilla Fund, we believe in making the journey of buying and selling land simple, transparent, and meaningful,” says Paul Emery, Founder of The Gorilla Fund. “For every piece of land sold, we plant 1,000 trees, ensuring that our impact reaches far beyond the land itself. Together, we’re building a legacy of trust, sustainability, and positive change, one acre at a time.”

“Buying land should be the simplest process, but it’s simply not,” Emery adds. “Our goal is to change that, and make selling and buying land as easy as switching on a light bulb.”

Leveraging Data and AI to Unlock Value

The Gorilla Fund integrates advanced data analytics and AI to accelerate deal flow and unlock value for clients. By streamlining decision-making, identifying opportunities, and optimizing pricing, the company ensures both buyers and sellers benefit from efficient, data-driven transactions.

With a commitment to sustainability and purpose-driven action, The Gorilla Fund aligns responsible land development with environmental stewardship. Each transaction contributes to a lasting, positive environmental footprint.

Paul Emery brings a rich history of entrepreneurial success and bold ventures to The Gorilla Fund. Based in Austin, Texas, Emery is a father, husband, and adventurer, with achievements including the solo circumnavigation of the globe by motorcycle in under 100 days, solo sailing the Atlantic, and flying with the Royal Air Force.

His business career is equally impressive. As co-founder of Makosi, a company providing scalable talent solutions to global accounting firms, Emery has built a track record of success. Makosi has serviced over 100 clients across North America, Europe, Africa, and APAC and made a significant social impact by putting 10,000 children through school in developing countries.

About The Gorilla Fund

The Gorilla Fund is a purpose-driven land company dedicated to making land transactions simple, transparent, and sustainable. For every acre sold, the company plants 1,000 trees to contribute to reforestation efforts and environmental preservation. The Gorilla Fund combines advanced technology with environmental stewardship, ensuring every deal leaves a positive impact on the planet.

For more information, visit www.thegorillafund.com or contact media@gorillafund.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/introducing-the-gorilla-fund-transforming-land-transactions-with-a-mission-for-environmental-stewardship-302278638.html

SOURCE The Gorilla Fund

Continue Reading

Trending