secwatch.observer — SEC 8-K summary
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Issuer:     Spectrum Brands Holdings, Inc. (SPB)
CIK:        0000109177
Form:       8-K
Filed at:   2024-05-21T23:59:59+00:00
Accession:  0001193125-24-143278
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spectrum Brands prices $300M exchangeable notes due 2029; $50M share repurchase concurrent
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- Raises $300M in 3.375% exchangeable senior notes due 2029; net proceeds ~$291.6M after underwriter discount.
- Initial exchange price ~$121.86/share (30% premium over May 20 closing price); exchange rate 8.2060 shares/$1,000.
- Proceeds to fund $21.6M capped call (cap ~$159.36/share, 70% premium) and $50M SPB common stock buyback.
- Notes are senior unsecured, guaranteed by parent and domestic subs; redeemable after June 7, 2027 under conditions.
- Holders can require repurchase at 100% principal upon a fundamental change; initial purchasers have $50M greenshoe option.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/109177/000119312524143278/0001193125-24-143278-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/109177/000119312524143278/d821243d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-143278

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