secwatch.observer — SEC 8-K summary
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Issuer:     TETRA TECH INC (TTEK)
CIK:        0000831641
Form:       8-K
Filed at:   2023-08-22T23:59:59+00:00
Accession:  0001104659-23-094243
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Tetra Tech issues $575M 2.25% convertible notes due 2028; repays $185M revolver & $234M term loan
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- Issued $575M aggregate principal of 2.25% Convertible Senior Notes due 2028; net proceeds ~$560.4M.
- Used $51.8M for capped call transactions to reduce dilution; initial conversion price ~$196.64/share (25% premium).
- Repaid $185M revolver, $234.4M term loan due 2027, and $89.3M term loan due 2026.
- Capped call transactions cover conversion offset up to cap price ~$259.56/share (65% premium).
- Notes convertible under conditions; company may redeem after Aug 2026 if stock ≥130% of conversion price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/831641/000110465923094243/0001104659-23-094243-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/831641/000110465923094243/tm2324220d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-094243

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