Diebold Nixdorf extends exchange offer; expects no consummation, warns of full equity dilution

DIEBOLD NIXDORF, Inc

Exchange offer for $72.1M 8.5% notes due 2024 extended to June 5, 2023, subject to creditor consents.
Only 15.34% of notes tendered as of May 19; company expects offer will not be consummated.
Conversations with lenders likely lead to restructuring resulting in substantial or full dilution of shareholder equity.
Notes holders may receive no value or payments; investment expected to be lost or cancelled.
Extension conditional on consents by May 30 to move consummation date to June 14.

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