Advanced Energy announces $1B convertible senior notes offering due 2031, to exchange portion of 2028 notes

ADVANCED ENERGY INDUSTRIES INC

• $1.0B aggregate principal of Convertible Senior Notes due 2031 in private offering; initial purchasers may buy up to $150M additional.
• Proceeds to fund capped call cost, exchange of some outstanding 2.50% Convertible Senior Notes due 2028, and general corporate purposes.
• Expects to enter individually negotiated exchanges with certain holders of the 2028 notes for cash and common stock.
• Capped call transactions expected to reduce potential dilution on conversion; offset cash payments in excess of principal.
• Existing convertible note hedge and warrant transactions to be partially unwound in connection with exchanges; may affect stock price.

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