secwatch.observer — SEC 8-K summary
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Issuer:     ITRON, INC. (ITRI)
CIK:        0000780571
Form:       8-K
Filed at:   2024-06-21T23:59:59+00:00
Accession:  0001193125-24-165689
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Itron prices $700M 1.375% convertible notes due 2030; conversion premium 27.5%
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- Issued $700M of 1.375% Convertible Senior Notes due July 15, 2030; initial purchasers exercised $105M option.
- Initial conversion price ~$131.24/share (27.5% premium over $102.93 stock price on June 17).
- Net proceeds ~$681.1M; ~$94.8M for capped calls, ~$100M to repurchase 971,534 shares.
- Capped call transactions cap at $205.86/share to offset dilution upon conversion.
- Proceeds may also repay 0.00% convertible notes due 2026 or for acquisitions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/780571/000119312524165689/0001193125-24-165689-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/780571/000119312524165689/d124505d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-165689

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