Granite Construction settles $273.7M convertible notes; issues 662,383 shares, pays $715M cash

GRANITE CONSTRUCTION INC

Issued 662,383 shares to settle conversions of $273.7M 3.75% Convertible Senior Notes due 2028.
Received ~$148M from capped call unwind agreements with financial institutions on Aug 11, 2026.
Paid ~$715M cash (including fractional shares) on Aug 12, 2026 to settle redemption obligations.
Notes were called for redemption on Aug 10, 2026; shares issued under Section 3(a)(9) exemption.
Cash payment funded in part by $148M capped call unwind proceeds; no new debt incurred.

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