secwatch.observer — SEC 8-K summary
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Issuer:     Ultra Clean Holdings, Inc. (UCTT)
CIK:        0001275014
Form:       8-K
Filed at:   2026-02-27T23:59:59+00:00
Accession:  0000950103-26-002821
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ultra Clean prices upsized $525M 0% convertible notes due 2031; amends credit agreement
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- Priced $525M (upsized from $400M) of 0.00% convertible senior notes due 2031; initial purchasers option for additional $75M.
- Net proceeds ~$511.1M; $40M to repurchase 672,608 shares at $59.47, $21.9M for capped call costs, remainder for working capital/term loan prepayment.
- Initial conversion price ~$84.75/share (42.5% premium over $59.47); cap price $104.0725 (75% premium).
- Credit agreement amended to increase max consolidated total gross leverage ratio to 6.00:1.00 for Q1 and Q2 2026.
- Settlement expected March 3, 2026; capped call transactions reduce potential dilution upon conversion.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1275014/000095010326002821/0000950103-26-002821-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1275014/000095010326002821/dp242232_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-26-002821

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