Tyler Technologies prices upsized $1.25B 0.50% convertible notes due 2031

TYLER TECHNOLOGIES INC

• Upsized from $1.0B to $1.25B; initial purchasers have option for additional $187.5M.
• Notes carry 0.50% coupon, mature July 15, 2031; initial conversion price ~$405.94/share (30% premium).
• Net proceeds estimated ~$1.224B ($1.408B if option exercised); ~$320.7M to repurchase 1.027M shares.
• About $162.8M used for capped call transactions to offset dilution, with cap price ~$655.77/share.
• Remainder for general corporate purposes; settlement expected May 14, 2026.

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