Astronics Corporation announced the pricing of $210.0 million aggregate principal amount of 0% convertible senior notes due 2031 in a private offering.
The Notes will mature on January 15, 2031.
Noteholders have the right to convert their Notes upon certain events before October 15, 2030.
Offering Details
$210.0 million aggregate principal amount of 0% convertible senior notes due 2031 priced.
Conversion Terms
Initial conversion rate of 18.2243 shares per $1,000 principal amount of Notes with a 25% premium over the Reference Price.
Redemption Information
Notes redeemable for cash at Astronics' option from January 22, 2029, under specific conditions.
- The offering aims at opportunistic partial refinancing of outstanding 2030 notes.
- Proceeds to be used for capped calls to offset potential share dilution.
- Conversion terms offer flexibility to note holders until maturity or specific events.
Astronics Corporation's move to issue convertible notes with innovative terms shows strategic financial planning, benefiting both the company and investors.