---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-059873"
form_type: "8-K"
ticker: "CBRL"
cik: "0001067294"
company_name: "CRACKER BARREL OLD COUNTRY STORE, INC"
filed_at: "2025-06-16T23:59:59+00:00"
generated_at: "2026-05-19T05:59:28.995976+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Cracker Barrel issues $345M of 1.75% convertible notes due 2030; repurchases $150M of 2026 notes

## Summary
- Issued $345M aggregate principal of 1.75% Convertible Senior Notes due 2030; initial conversion price ~$72.23/share (32.5% premium).
- Net proceeds ~$333.9M; used $145.9M to repurchase $150M of outstanding 0.625% 2026 notes in concurrent privately negotiated transactions.
- Entered into capped call transactions with initial strike ~$72.23 and cap ~$87.22 to offset potential dilution upon conversion.
- Partially unwound existing convertible note hedge and warrant transactions related to the repurchased 2026 notes.
- Remaining net proceeds to be used for general corporate purposes, including possible repayment under revolving credit facility.

## SEC filing metadata
- accession: 0001104659-25-059873
- form_type: 8-K
- ticker: CBRL
- cik: 0001067294
- company_name: CRACKER BARREL OLD COUNTRY STORE, INC
- filed_at: 2025-06-16T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1067294/000110465925059873/0001104659-25-059873-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1067294/000110465925059873/tm2518035d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-059873
- JSON: https://secwatch.observer/filing/0001104659-25-059873.json
- Plain text: https://secwatch.observer/filing/0001104659-25-059873.txt

## Key facts
- Debt Financings
  CRACKER BARREL OLD COUNTRY STORE, INC incurred convertible notes of $345 million aggregate principal amount with U.S. Bank Trust Company, National Association, as trustee at 1.75% per annum maturing September 15, 2030.
  - Instrument: convertible notes
  - Principal: $345 million aggregate principal amount
  - Counterparty: U.S. Bank Trust Company, National Association, as trustee
  - Rate: 1.75% per annum
  - Maturity: September 15, 2030
  - Event: incurrence
  source text: On June 13, 2025, Cracker Barrel Old Country Store, Inc., a Tennessee corporation (the “Company”), closed its previously announced issuance and sale of $345 million aggregate principal amount of 1.75% Convertible Senior Notes due 2030 (the “Notes”), which included the exercise in full of the initial purchasers’ option to purchase up to an additional $45 million principal amount of the Notes.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1067294/000110465925059873/0001104659-25-059873-index.htm

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