PAR Tech exchanges $100M convertible notes for ~2.4M common shares

PAR TECHNOLOGY CORP

Exchanged $100M of 2.875% Convertible Notes due 2026 for ~2.4M shares plus $336K accrued interest.
Notes Exchange expected to close Nov 27, 2024; $20M principal remains outstanding.
No cash proceeds; CEO says equitizing debt provides balance sheet flexibility for future investments.
J.P. Morgan acted as sole agent; J. Wood Capital Advisors as financial advisor.

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