secwatch.observer — SEC 8-K summary
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Issuer:     PAR TECHNOLOGY CORP (PAR)
CIK:        0000708821
Form:       8-K
Filed at:   2025-01-24T23:59:59+00:00
Accession:  0001140361-25-001910
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/708821/000114036125001910/0001140361-25-001910-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/708821/000114036125001910/ny20041037x2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-001910

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