secwatch.observer — SEC 8-K summary
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Issuer:     ASTRONICS CORP (ATRO)
CIK:        0000008063
Form:       8-K
Filed at:   2024-12-03T23:59:59+00:00
Accession:  0000008063-24-000069
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/8063/000000806324000069/0000008063-24-000069-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/8063/000000806324000069/atro-20241203.htm
  HTML page:      https://secwatch.observer/filing/0000008063-24-000069

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer