DICKS Sporting Goods exchanges $50M of convertible notes for cash and equity; cuts annual interest $1.625M

DICK'S SPORTING GOODS, INC.

Exchanged $50M aggregate principal of 3.25% convertible notes due 2025 for cash and common stock.
Annual interest payments reduced by $1.625M; ~$425M of notes remain outstanding (~89.5% of original).
Partially unwound related convertible note hedge and warrant transactions in connection with the exchange.
Share count determined by VWAP averaging period starting June 24, 2022; shares issued unregistered under Securities Act.
Exchange covers ~10.5% of outstanding notes; company used HudsonWest LLC as financial advisor.

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