JBT Marel closes $575M 0.375% convertible notes due 2030; net proceeds ~$506M

JBT MAREL Corp

$575M aggregate principal (incl. $75M greenshoe) of 0.375% convertible senior notes due 2030.
Initial conversion price ~$187.77/share (32.5% premium over $141.71 closing price on Sept 4).
Net proceeds ~$506.1M; to repay revolver borrowings and refinance 0.25% convertible notes due 2026.
Entered convertible note hedge and warrant transactions; warrant strike $283.42/share (100% premium).
Notes redeemable on/after Sept 20, 2028 if stock price ≥130% of conversion price for 20 of 30 trading days.

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