---
schema_version: "secwatch.filing_event.v1"
accession: "0000915779-24-000141"
form_type: "8-K"
ticker: "DAKT"
cik: "0000915779"
company_name: "DAKTRONICS INC /SD/"
filed_at: "2024-11-08T23:59:59+00:00"
generated_at: "2026-05-30T03:11:06.939947+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Daktronics converts $7M of $25M Alta Fox note to equity; plans share repurchases to offset dilution

## Summary
- Initial $7M conversion of Alta Fox note yields ~1.1M shares at $6.31/share; conversion date Dec 3, 2024.
- Remaining $18M note to be converted in $7M tranches every 30 days; note carries 9% interest, due May 2027.
- Company expects to save ~$5.4M in future interest expense by converting the note to equity.
- Daktronics plans to repurchase shares under existing authorization to offset dilution from conversion.
- Alta Fox's 3% ownership cap prevents immediate issuance; shares delivered after certification of lower ownership.

## SEC filing metadata
- accession: 0000915779-24-000141
- form_type: 8-K
- ticker: DAKT
- cik: 0000915779
- company_name: DAKTRONICS INC /SD/
- filed_at: 2024-11-08T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 8.01, 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/915779/000091577924000141/0000915779-24-000141-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/915779/000091577924000141/dakt-20241108.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000915779-24-000141
- JSON: https://secwatch.observer/filing/0000915779-24-000141.json
- Plain text: https://secwatch.observer/filing/0000915779-24-000141.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.