DICK'S Sporting Goods unwinds warrant transactions with Wells Fargo as part of convertible note redemption

DICK'S SPORTING GOODS, INC.

Agreement dated March 2, 2023, effective Feb 10, 2023, to unwind warrants linked to 3.25% Convertible Senior Notes due 2025.
No early termination penalties incurred by the company.
Company will deliver shares based on VWAP, netted against call option settlements from Wells Fargo.
Warrants will be fully unwound upon redemption or conversion of all outstanding convertible notes.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

DICK'S SPORTING GOODS, INC. terminated Warrant Early Termination Agreement with Wells Fargo Bank, National Association valued at Warrant Early Termination Agreement to unwind remaining warrant transactions related to 3.25% Conver (effective 2023-02-10).

Action: termination
Agreement: notes offering
Counterparty: Wells Fargo Bank, National Association
Value: Warrant Early Termination Agreement to unwind remaining warrant transactions related to 3.25% Conver
Effective: 2023-02-10

Exact text from the filing

On March 2 , 2023 (and effective as of February 10, 2023), DICK’S Sporting Goods, Inc. (the “Company”) entered into an unwind agreement with Wells Fargo Bank, National Association (the “Hedge Counterparty”) relating to the remaining portion of the warrant transactions (the “Warrant Early Termination Agreement”) that were previously entered into by the Company with such Hedge Counterparty in connection with the issuance of its 3.25% Convertible Senior Notes due 2025 (the “Notes”).

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DICK'S SPORTING GOODS, INC. filing history →

Source: SEC EDGAR

accession 0001089063-23-000015

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