Why DocuSign Stock Jumped Today

Shares of DocuSign (NASDAQ: DOCU) were climbing today after the company announced yesterday that it was offering $500 million in convertible notes and that it was improving its balance sheet with a new revolving credit facility. 

The tech stock jumped by as much as 7.9% during trading today and was up 5.2% as of 12:07 p.m. EST.

The company issued two press releases yesterday, with the first focusing on the company's proposal to offer $500 million of convertible senior notes. DocuSign said in a statement that a "significant portion" of the net proceeds from the offering will be used to repurchase a majority of convertible senior notes that are due in 2023.  

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Source Fool.com