Astronics (ATRO) said Tuesday it priced its private offering of $150 million of 5.5% convertible senior notes due 2030.
The initial conversion rate for the notes is 43.6814 common shares per $1,000 principal amount of notes, or an initial conversion price of about $22.89 per share.
The initial buyers were given a 13-day option to buy up to an additional $15 million of the notes, the company said.
The company said it expects to use part of the net proceeds to repay all borrowings under its term loan facility and the remaining proceeds to fund the partial repayment of its borrowings under its revolving credit facility and to pay the offering's fees and expenses.
The offering is expected to close Dec. 3, the company said.
Shares of Astronics fell over 18% in premarket activity Tuesday.
Price: 14.40, Change: -3.21, Percent Change: -18.23
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。