Loan & DebtSep 14, 2026, 05:11 PM
BKV Corp Issues $650M Convertible Notes Due 2031
AI Summary
BKV Corporation announced the issuance of $650 million aggregate principal amount of 1.625% Convertible Senior Notes due 2031. The net proceeds, approximately $554.7 million after expenses, will be used for capped call transactions, share repurchases, and general corporate purposes including debt repayment and capital expenditures. The notes mature in October 2031, with conversion rights detailed, and an initial conversion price of $31.93 per share.
Key Highlights
- BKV Corporation issued $650 million in 1.625% Convertible Senior Notes due 2031.
- Net proceeds from the offering were approximately $554.7 million after fees and expenses.
- Approximately $64.7 million used to fund Capped Call Transactions.
- Approximately $35.0 million used to repurchase 1,452,282 shares of common stock at $24.10 per share.
- The Company intends to use the remainder for general corporate purposes, including debt repayment and capital expenditures.
- Notes mature on October 15, 2031, with conversion rights subject to specific conditions and dates.
- Initial conversion rate is 31.3161 shares per $1,000 principal, implying an initial conversion price of $31.93 per share.
Price Impact
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