secwatch.observer — SEC 8-K summary
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Issuer:     PARSONS CORP (PSN)
CIK:        0000275880
Form:       8-K
Filed at:   2024-02-27T23:59:59+00:00
Accession:  0001193125-24-046496
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Parsons issues $800M 2.625% convertible notes due 2029; board approves $100M stock buyback
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- $800M aggregate principal 2.625% Convertible Senior Notes due 2029; initial conversion price ~$94.11 (25% premium over last sale).
- Capped call transactions cost ~$88.4M to offset dilution; cap price $131.7575 (75% premium).
- Board authorized $100M stock repurchase and removed $25M quarterly cap; also plans to repurchase some outstanding 0.25% 2025 notes.
- Proceeds used for capped call cost, repurchases of existing notes and common shares, and general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/275880/000119312524046496/0001193125-24-046496-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/275880/000119312524046496/d799732d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-046496

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