Loan & DebtAug 13, 2026, 05:02 PM
Granite Construction Settles $273.7M Convertible Notes; $148M from Capped Call Unwind
AI Summary
Granite Construction Inc. settled $273.7 million in 3.75% Convertible Senior Notes due 2028. The company issued 662,383 shares of common stock and paid approximately $715 million in cash to fulfill its obligations. This cash payment was partially funded by approximately $148 million received from unwinding capped call transactions related to the notes.
Key Highlights
- Settled $273.7 million aggregate principal amount of 3.75% Convertible Senior Notes due 2028.
- Issued 662,383 shares of common stock to settle note conversions.
- Received approximately $148 million from unwinding capped call transactions.
- Paid approximately $715 million in cash to settle obligations for the 2028 Notes.
Price Impact
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