secwatch.observer — SEC 8-K summary
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Issuer:     PINNACLE WEST CAPITAL CORP (PNW)
CIK:        0000764622
Form:       8-K
Filed at:   2024-06-04T23:59:59+00:00
Accession:  0001104659-24-068027
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/764622/000110465924068027/0001104659-24-068027-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/764622/000110465924068027/tm2413531d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-068027

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