secwatch.observer — SEC 8-K summary
======================================

Issuer:     GRANITE CONSTRUCTION INC (GVA)
CIK:        0000861459
Form:       8-K
Filed at:   2024-06-07T23:59:59+00:00
Accession:  0001437749-24-019673
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Granite Construction prices $325M 3.25% convertible notes due 2030; conversion premium ~30%
--------------------------------------------------------------------------------

- $325M aggregate principal of 3.25% convertible senior notes due 2030, plus $48.75M option for initial purchasers.
- Initial conversion price ~$77.88/share, a ~30% premium to June 6 closing price of $59.91.
- Net proceeds ~$316.6M; $40M for capped call, $57.6M to repurchase $30.2M of existing 2.75% 2024 notes.
- Concurrent repurchase of up to $15M of common stock in privately negotiated transactions.
- Closing expected June 11, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861459/000143774924019673/0001437749-24-019673-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861459/000143774924019673/gva20240604_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-019673

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