PAR raises $115M in 1% convertible notes due 2030; to repay $90M Blue Owl term loan

PAR TECHNOLOGY CORP

$115M aggregate principal of 1.00% Convertible Senior Notes due 2030 priced Jan 22, 2025; initial conversion price ~$97.00/share (32.5% premium).
Net proceeds estimated at ~$111.3M (with full over-allotment) or ~$96.7M without; $90M used to repay Blue Owl Term Loan.
Notes are unsecured, mature Jan 15, 2030; interest payable semiannually; convertible at holder's option under certain conditions.
Company may redeem notes on/after Jan 20, 2028 if stock price >=130% of conversion price for 20 of 30 trading days.
Offering exempt from registration under Rule 144A; up to 1.57M shares potentially issuable upon conversion.

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