---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-068027"
form_type: "8-K"
ticker: "PNW"
cik: "0000764622"
company_name: "PINNACLE WEST CAPITAL CORP"
filed_at: "2024-06-04T23:59:59+00:00"
generated_at: "2026-06-01T06:39:27.423352+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Pinnacle West prices $475M of 4.75% convertible senior notes due 2027; upsized from $450M

## Summary
- Issued $475M of 4.75% convertible senior notes due 2027, upsized from $450M; optional additional $50M from initial purchasers.
- Net proceeds ~$468M ($517.4M with option); used for general corporate purposes, incl. debt repayment and APS investments.
- Initial conversion price ~$92.30/share, a 20% premium over June 3 closing; non-callable by company prior to maturity.
- Matures June 15, 2027; interest 4.75% paid semi-annually; holders may convert under conditions from March 15, 2027.
- Private placement to QIBs via Rule 144A; expected close June 6, 2024; notes not registered under Securities Act.

## SEC filing metadata
- accession: 0001104659-24-068027
- form_type: 8-K
- ticker: PNW
- cik: 0000764622
- company_name: PINNACLE WEST CAPITAL CORP
- filed_at: 2024-06-04T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/764622/000110465924068027/0001104659-24-068027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/764622/000110465924068027/tm2413531d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-068027
- JSON: https://secwatch.observer/filing/0001104659-24-068027.json
- Plain text: https://secwatch.observer/filing/0001104659-24-068027.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.