BUZZ-PAR Technology drops on on planned convertible bond deal

Reuters
01-21
BUZZ-PAR Technology drops on on planned convertible bond deal

** PAR Technology's PAR.N shares down 2.6% at $71.27 before the bell as restaurant point-of-sale $(POS.UK)$ provider looks to raise capital

** New Hartford, New York-based firm says offering privately $100 mln convertible bonds due 2030

** It plans to use net proceeds to fully repay $90 mln principal amount outstanding under term loan with specialty finance firm Blue Owl Capital Corp OBDC.N, remainder for general purposes

** Co has market cap of ~$2.8 bln, per LSEG

** Through last close on Fri, shares have edged up 0.7% to begin 2025. Over the past 12 months, stock up ~67%

** Of 10 analysts covering the stock, recommendation breakdown is 8 "strong buy" or "buy", rest "hold" - LSEG

** Median PT of $90 unchanged from a month ago, but up from $65.50 on Oct 21

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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