Dick's exchanges $100M of 2025 notes for cash and stock; interest saved $3.25M/yr

DICK'S SPORTING GOODS, INC.

Exchanged $100M of 3.25% Convertible Senior Notes due 2025 (~17% of outstanding) for cash and common stock.
Approximately $475M of the notes remain outstanding after the exchange.
Annual interest payments to be reduced by about $3.25 million.
Shares to be issued based on volume-weighted average price during an averaging period starting April 6, 2022.
HudsonWest LLC acted as financial advisor on the call spread terminations and exchange transactions.

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