Astronics announces $210M convertible note offering to partially refinance 2030 notes

ASTRONICS CORP

Offering $210M aggregate principal of convertible senior notes due 2031, with option for additional $15M.
Proceeds to repurchase a portion of outstanding 5.500% 2030 notes and pay for capped call transactions.
Capped calls intended to reduce dilution upon conversion up to a cap at ~90% premium to stock VWAP.
Plans to enter a new cash flow revolving credit facility to replace the existing ABL facility.
Supplemental data reclassifying R&D expense for 2022-2024 for comparability with new 2025 presentation.

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