ASTRONICS CORP (ATRO): debt financing — Astronics issues $225M 0% convertible notes due 2031, repurchases $132M of 5.5% notes

ASTRONICS CORP

Issued $225M aggregate principal of 0% convertible senior notes due Jan 2031; net proceeds ~$216.7M.
Used ~$189.8M of proceeds + $85M ABL borrowings + $11M cash to repurchase $132M of 5.5% convertible notes due 2030.
Paid $26.9M for capped call transactions; cap price $83.4051 (90% premium over reference price of $43.8974).
Initial conversion price $54.87 per share (25% premium); conversion rate 18.2243 shares per $1,000 principal.
CEO cites capital structure optimization: lower cost of debt and reduced future dilution for shareholders.

item 1.01 item 2.03 item 3.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

ASTRONICS CORP incurred convertible notes of $225.0 million aggregate principal amount with initial purchasers at 0% maturing January 15, 2031.

Instrument: convertible notes
Principal: $225.0 million aggregate principal amount
Counterparty: initial purchasers
Rate: 0%
Maturity: January 15, 2031
Event: incurrence

Exact text from the filing

On September 16, 2025, Astronics Corporation (the “Company”) issued $225.0 million aggregate principal amount of 0% Convertible Senior Notes due 2031 (the “Notes”).

View on SEC.gov

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.9

ASTRONICS CORP issued a maximum of 5,125,568 shares of the Company’s common stock of convertible note to initial purchasers for $225.0 million aggregate principal amount.

Security: convertible note
Shares: a maximum of 5,125,568 shares of the Company’s common stock
Purchaser: initial purchasers
Consideration: $225.0 million aggregate principal amount

Exact text from the filing

On September 16, 2025, Astronics Corporation (the “Company”) issued $225.0 million aggregate principal amount of 0% Convertible Senior Notes due 2031 (the “Notes”).

View on SEC.gov

7 debt financings filed in the last 30 days. Browse all debt financings →

ASTRONICS CORP filing history →

Source: SEC EDGAR

accession 0000008063-25-000075

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