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

Issuer:     Knight-Swift Transportation Holdings Inc. (KNX)
CIK:        0001492691
Form:       8-K
Filed at:   2026-05-08T23:59:59+00:00
Accession:  0001492691-26-000042
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Knight-Swift closes $1.5B convertible note offering at 1.00% due 2031; proceeds used to repay term loans and revolver
--------------------------------------------------------------------------------

- Issued $1.5B total principal of 1.00% Convertible Senior Notes due Nov. 15, 2031; initial conversion price ~$80.11/share (30% premium over $61.62).
- Net proceeds ~$1.46B after discounts/expenses; used $107.1M for capped call with cap price ~$104.75/share to reduce dilution.
- Repaid $300M term loan due 2027, $436M of term loan due 2030, and $620M revolver balance using proceeds.
- Holder conversion triggers include stock price >=130% of conversion price for 20 of 30 trading days, or other conditions.
- Company may redeem notes after May 21, 2029 if stock price >=130% of conversion price for 20 of 30 days.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1492691/000149269126000042/0001492691-26-000042-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1492691/000149269126000042/knx-20260505.htm
  HTML page:      https://secwatch.observer/filing/0001492691-26-000042

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