** Shares of PAR Technology PAR.N down 0.6% at $72.77 on Weds after point-of-sale $(POS.UK)$ provider to restaurants raises capital
** New Hartford, New York-based co early Weds announced pricing $100 mln 1% convertible bonds due 2030
** Initial conversion price of $97 represents 32.5% premium to stock's last close on Tues
** Co intends to use net offering 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
** Through Tues, co had ~$2.8 bln market cap, per LSEG
** YTD, PAR shares are flat. Stock closed at $46.07 a year ago
** Of 10 analysts covering the stock, recommendation breakdown is 8 "strong buy" or "buy", rest "hold" with $90 median PT
(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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