secwatch.observer — SEC 8-K summary
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Issuer:     CRACKER BARREL OLD COUNTRY STORE, INC (CBRL)
CIK:        0001067294
Form:       8-K
Filed at:   2025-06-16T23:59:59+00:00
Accession:  0001104659-25-059873
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 1.02, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1067294/000110465925059873/0001104659-25-059873-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1067294/000110465925059873/tm2518035d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-059873

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