secwatch.observer — SEC 8-K summary
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Issuer:     Ultra Clean Holdings, Inc. (UCTT)
CIK:        0001275014
Form:       8-K
Filed at:   2026-02-25T23:59:59+00:00
Accession:  0000950103-26-002636
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ultra Clean proposes $400M convertible notes due 2031; to repurchase up to $40M stock
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- Offering of $400M aggregate principal amount of convertible senior notes due 2031, plus $60M greenshoe option.
- Notes will mature March 15, 2031; settle conversions in cash and possibly shares; redeemable after March 20, 2029.
- Net proceeds to fund capped call transactions, repurchase up to $40M of common stock, prepay term loan, and working capital.
- Anticipated amendment to credit agreement to temporarily increase max consolidated total gross leverage ratio to 6.00x.
- Capped call transactions expected to reduce potential dilution upon conversion or offset cash payments above principal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1275014/000095010326002636/0000950103-26-002636-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1275014/000095010326002636/dp242108_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-26-002636

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer