InterDigital issues $460M 3.50% convertible notes due 2027; repurchases $273.8M of 2024 notes and $75M of stock

InterDigital, Inc.

Issued $460M of 3.50% senior convertible notes due 2027; initial conversion price $77.49, 27.5% premium over $60.78 close.
Used $285.2M of proceeds to repurchase $273.8M principal of existing 2.00% 2024 notes in private transactions.
Used $75M of proceeds to repurchase ~1.23M shares of common stock at $60.78 per share from institutional investors.
Entered convertible note hedge covering ~5.9M shares for $80.5M to offset dilution; sold warrants with strike $106.37 for $43.7M.
Partially unwound existing convertible note hedge and warrants related to repurchased 2024 notes.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.