Tyler Technologies closes $1.44B 0.50% convertible note offering, repurchases 1M+ shares

TYLER TECHNOLOGIES INC

Issued $1,437,500,000 aggregate principal of 0.50% convertible senior notes due July 15, 2031.
Initial conversion price ~$405.94 per share (~30% premium); capped calls raise effective price to ~$655.77.
Capped call transactions cost $187.2M; net proceeds ~$1,408.1M after fees and expenses.
Used $320.7M to repurchase 1,026,900 shares; YTD total repurchases ~2.1M shares for ~$667M.
Remaining proceeds allocated for general corporate purposes and share buyback authorization.

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