secwatch.observer — SEC 8-K summary
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Issuer:     InterDigital, Inc. (IDCC)
CIK:        0001405495
Form:       8-K
Filed at:   2022-05-27T23:59:59+00:00
Accession:  0001193125-22-162442
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1405495/000119312522162442/0001193125-22-162442-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1405495/000119312522162442/d361872d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-162442

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