secwatch.observer — SEC 8-K summary
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Issuer:     ITRON, INC. (ITRI)
CIK:        0000780571
Form:       8-K
Filed at:   2026-02-26T23:59:59+00:00
Accession:  0001193125-26-076749
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Itron prices $700M zero-coupon convertible notes due 2032, upsized; concurrent $100M share repurchase
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- $700M principal 0.00% convertible senior notes due 2032; initial conversion price $123.77/share (30% premium to $95.21).
- Initial purchasers' option for additional $105M exercised in full; net proceeds ~$681.1M (or $783.3M with option).
- Entered capped call transactions costing ~$92.8M to reduce potential dilution; cap price $190.42/share.
- Concurrently repurchasing 1,050,309 shares (~$100M) in privately negotiated transactions.
- Proceeds to repay existing 0.00% convert notes due 2026 and for general corporate purposes.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/780571/000119312526076749/0001193125-26-076749-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/780571/000119312526076749/d925789d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-076749

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