Loan & DebtMay 11, 2026, 07:07 AM
Tyler Technologies to Offer $1B Convertible Senior Notes Due 2031
AI Summary
Tyler Technologies, Inc. announced a proposed private offering of $1,000,000,000 in convertible senior notes due 2031, with an option for initial purchasers to acquire an additional $150,000,000. The company plans to use a portion of the net proceeds to fund capped call transactions, which are intended to reduce potential dilution to its common stock. Additionally, up to $350,000,000 of the proceeds will be used to repurchase shares of its common stock concurrently with the offering, with the remainder allocated for general corporate purposes.
Key Highlights
- Tyler Technologies intends to offer $1,000,000,000 aggregate principal amount of convertible senior notes due 2031.
- Initial purchasers have an option to buy up to an additional $150,000,000 aggregate principal amount of notes.
- A portion of the net proceeds will fund capped call transactions to reduce potential stock dilution.
- Up to $350,000,000 of net proceeds will be used for concurrent common stock repurchases.
- The notes are senior, unsecured obligations maturing on July 15, 2031, with semi-annual interest.
- Notes are convertible under certain conditions and redeemable by Tyler after July 20, 2029.