Astronics prices $150M 5.5% convertible senior notes due 2030; proceeds to repay debt

ASTRONICS CORP

$150M aggregate principal; initial purchasers have option for additional $15M.
Interest rate 5.500% per year, semiannual; matures March 15, 2030.
Initial conversion price ~$22.89/share, a ~30% premium over Nov 25 close of $17.61.
Proceeds used to repay outstanding term loan and part of revolving credit facility.
Offering expected to close Dec 3, 2024; notes unsecured, redeemable after March 20, 2028.

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