Astronics issues $165M 5.5% convertible notes due 2030, repays $54.9M term loan

ASTRONICS CORP

Issued $165M aggregate principal of 5.500% Convertible Senior Notes due 2030, including $15M from full exercise of initial purchasers' option.
Initial conversion rate 43.6814 shares/$1,000 principal (~$22.89 per share); conversion value settled in cash, stock, or combination.
Notes not redeemable before March 20, 2028; after that, redeemable if stock price ≥130% of conversion price for 20 of 30 trading days.
Used portion of proceeds to repay ~$54.9M principal plus ~$1.8M call premium on Term Loan Facility with HSBC/Redwood Capital.
Up to 9,369,674 shares of common stock may be issuable upon conversion, based on maximum conversion rate; not registered under Securities Act.

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