secwatch.observer — SEC 8-K summary
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Issuer:     GRANITE CONSTRUCTION INC (GVA)
CIK:        0000861459
Form:       8-K/A
Filed at:   2026-02-18T23:59:59+00:00
Accession:  0000861459-26-000008
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.03, 1.02, 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Granite Construction exchanges $100M of convertible notes for cash/stock; expected to remove ~2.2M diluted shares
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- Exchange of $100M aggregate principal of 3.75% Convertible Senior Notes due 2028 for cash/stock consideration based on 15-day VWAP.
- Total consideration ~$283M at $128.61 stock price; paid fully in cash if VWAP below $140.00.
- After closing, $273.75M of notes remain outstanding; diluted share count reduced by ~2.2M shares.
- Entered partial unwind agreements with capped call counterparties in connection with the exchange.
- Any stock issued relies on Section 4(a)(2) exemption; closing subject to customary conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861459/000086145926000008/0000861459-26-000008-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861459/000086145926000008/gva-20260218.htm
  HTML page:      https://secwatch.observer/filing/0000861459-26-000008

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