secwatch.observer — SEC 8-K summary
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Issuer:     AVNET INC (AVT)
CIK:        0000008858
Form:       8-K
Filed at:   2025-09-05T23:59:59+00:00
Accession:  0000008858-25-000047
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avnet issues $650M of 1.75% convertible notes due 2030; repurchases $100M in stock
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- Issued $650M aggregate principal of 1.75% Convertible Senior Notes due 2030, including full exercise of initial purchasers' option for additional $100M.
- Net proceeds ~$632.8M; used $100M to repurchase ~1.92M shares of common stock concurrently.
- Remaining net proceeds to repay a portion of the Company's revolving credit facility.
- Initial conversion price ~$70.27 per share, ~35% premium over last reported sale price of $52.05 on Sept 2, 2025.
- Notes mature Sept 1, 2030; redemption option available on/after Sept 8, 2028 under certain conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/8858/000000885825000047/0000008858-25-000047-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/8858/000000885825000047/avt-20250902x8k.htm
  HTML page:      https://secwatch.observer/filing/0000008858-25-000047

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