secwatch.observer — SEC 8-K summary
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Issuer:     GRANITE CONSTRUCTION INC (GVA)
CIK:        0000861459
Form:       8-K
Filed at:   2026-05-18T12:40:44+00:00
Accession:  0001437749-26-017523
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Granite Construction announces $600M senior notes offering to refinance convertible notes
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- Offering $600M in senior notes due 2034 in a private placement to redeem all outstanding 3.75% Convertible Senior Notes due 2028.
- Estimated market value of 2028 Notes is $827.3M based on GVA closing price of $138.55 on May 15, 2026.
- Expects to receive ~$160M from unwinding capped call transactions entered with the 2028 Notes.
- Net proceeds plus cash on hand and capped call unwind cash to fund redemption; any remaining may repay revolver.
- Notes will be guaranteed by certain domestic subsidiaries; offering only to QIBs and non-U.S. persons.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/861459/000143774926017523/0001437749-26-017523-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/861459/000143774926017523/gva20260516_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-26-017523

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