---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-213518"
form_type: "8-K"
ticker: null
cik: "0000894081"
company_name: "Air Transport Services Group, Inc."
filed_at: "2023-08-15T23:59:59+00:00"
generated_at: "2026-06-11T09:50:53.301080+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# ATSG issues $400M convertible notes at 3.875%, uses proceeds to repurchase stock and retire 2024 notes

## Summary
- Issued $400M aggregate principal of 3.875% convertible senior notes due 2029; conversion price approx. $31.96 per share.
- Used $118.5M of net proceeds to repurchase 5,435,777 common shares, including 1,177,000 from Amazon.
- Used $204M to repurchase $204.5M of 2024 convertible notes in privately-negotiated transactions.
- Entered into agreements to unwind existing call spread transactions, receiving net approx. $1.27M.

## SEC filing metadata
- accession: 0001193125-23-213518
- form_type: 8-K
- cik: 0000894081
- company_name: Air Transport Services Group, Inc.
- filed_at: 2023-08-15T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/894081/000119312523213518/0001193125-23-213518-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/894081/000119312523213518/d763607d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-213518
- JSON: https://secwatch.observer/filing/0001193125-23-213518.json
- Plain text: https://secwatch.observer/filing/0001193125-23-213518.txt

## Key facts
- Debt Financings
  Air Transport Services Group, Inc. incurred convertible notes of $400 million aggregate principal amount with Truist Securities, Inc. and Oppenheimer & Co. Inc., as representatives of the initial purchasers at 3.875% maturing August 15, 2029.
  - Instrument: convertible notes
  - Principal: $400 million aggregate principal amount
  - Counterparty: Truist Securities, Inc. and Oppenheimer & Co. Inc., as representatives of the initial purchasers
  - Rate: 3.875%
  - Maturity: August 15, 2029
  - Event: incurrence
  source text: On August 14, 2023, the Company issued a total of $400 million aggregate principal amount of the notes to the Initial Purchasers pursuant to the Purchase Agreement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/894081/000119312523213518/0001193125-23-213518-index.htm
- Material Agreements
  Air Transport Services Group, Inc. entered into Purchase Agreement with Truist Securities, Inc. and Oppenheimer & Co. Inc., as representatives of the initial purchasers valued at $350 million aggregate principal amount (effective 2023-08-09).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Truist Securities, Inc. and Oppenheimer & Co. Inc., as representatives of the initial purchasers
  - Value: $350 million aggregate principal amount
  - Effective: 2023-08-09
  source text: On August 9, 2023, Air Transport Services Group, Inc. (the “Company”) entered into a Purchase Agreement (the “Purchase Agreement”) with Truist Securities, Inc. and Oppenheimer & Co. Inc., as representatives of the initial purchasers named therein (collectively, the “Initial Purchasers”), relating to the sale by the Company of $350 million aggregate principal amount of the Company’s 3.875% convertible senior notes due 2029
  evidence_url: https://www.sec.gov/Archives/edgar/data/894081/000119312523213518/0001193125-23-213518-index.htm
- Material Agreements
  Air Transport Services Group, Inc. entered into Indenture with U.S. Bank Trust Company, National Association, as trustee (effective 2023-08-14).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: U.S. Bank Trust Company, National Association, as trustee
  - Effective: 2023-08-14
  source text: On August 14, 2023, the Company entered into an indenture relating to the issuance of the notes (the “Indenture”) with U.S. Bank Trust Company, National Association, as trustee (the “Trustee”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/894081/000119312523213518/0001193125-23-213518-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.