secwatch.observer — SEC 8-K summary
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Issuer:     Spectrum Brands Holdings, Inc. (SPB)
CIK:        0000109177
Form:       8-K
Filed at:   2024-05-23T23:59:59+00:00
Accession:  0001193125-24-146032
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Spectrum Brands issues $350M of 3.375% Exchangeable Senior Notes due 2029
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- Principal amount $350M, including full exercise of option for additional $50M.
- Interest rate 3.375% per annum, semi-annual, matures June 1, 2029.
- Initial exchange price ~$121.86 per share (8.2060 shares per $1,000 principal).
- Capped call transactions cost $25.2M, cap price $159.36, to reduce dilution.
- Net proceeds: ~$50M for stock repurchase, remainder for general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/109177/000119312524146032/0001193125-24-146032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/109177/000119312524146032/d795736d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-146032

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