secwatch.observer — SEC 8-K summary
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Issuer:     Delek US Holdings, Inc. (DK)
CIK:        0001694426
Form:       8-K
Filed at:   2026-09-29T21:24:46+00:00
Accession:  0001193125-26-407833
Event type: debt
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Delek US prices $460M 0.00% convertible notes due 2031 at $85.31 conversion price, 27.5% premium
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- $400M base offering plus full exercise of the $60M initial-purchaser option; notes mature Nov 1, 2031, bear 0.00% regular interest and do not accrete.
- Initial conversion price ~$85.31/share (11.7219 shares per $1,000), a 27.5% premium to the $66.91 NYSE close on Sept 24, 2026; up to 6,874,884 shares issuable.
- Net proceeds $449.1M; a portion funds capped calls costing ~$34.3M with a $117.09 cap (75% premium), remainder for general purposes including partial Term Loan Credit Facility repayment.
- Company may not redeem before Nov 6, 2029; cleanup redemption allowed if under 10% of notes remain outstanding; holders may demand repurchase at 100% on a fundamental change.
- Initial purchasers represented by Mizuho, Wells Fargo and Truist; offering closed Sept 29, 2026, notes guaranteed by subsidiary guarantors of the term loan and revolver.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1694426/000119312526407833/0001193125-26-407833-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1694426/000119312526407833/d133400d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-407833

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