{"schema_version":"secwatch.filing_event.v1","accession":"0001552781-24-000058","form_type":"8-K","ticker":"PRGS","cik":"0000876167","company_name":"PROGRESS SOFTWARE CORP /MA","filed_at":"2024-03-01T23:59:59+00:00","discovered_at":"2026-05-14T18:03:27.106687+00:00","generated_at":"2026-06-05T05:58:29.191229+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Progress Software issues $450M of 3.50% Convertible Senior Notes due 2030","bullets":["$450M aggregate principal of 3.50% Convertible Senior Notes due 2030, issued March 1, 2024.","Initial conversion price ~$67.74/share (conversion rate 14.7622 shares per $1,000 principal).","Notes mature March 1, 2030; interest payable semi-annually on March 1 and Sept 1.","Entered capped call transactions to reduce potential dilution, cap price ~$92.98/share.","Notes are senior unsecured, rank equally with existing senior unsecured indebtedness."],"urls":{"canonical":"https://secwatch.observer/filing/0001552781-24-000058","json":"https://secwatch.observer/filing/0001552781-24-000058.json","markdown":"https://secwatch.observer/filing/0001552781-24-000058.md","text":"https://secwatch.observer/filing/0001552781-24-000058.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/876167/000155278124000058/0001552781-24-000058-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/876167/000155278124000058/e24066_prgs-8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-05T05:58:29.191229+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"86527bb63620bd6b5b84c6fadd04ba7e7a1dd461","claim":"PROGRESS SOFTWARE CORP /MA entered into Indenture with U.S. Bank Trust Company, National Association valued at $450.0 million aggregate principal amount (effective 2024-03-01).","evidence_excerpt":"On March 1, 2024, Progress Software Corporation (the “ Company ”) issued and sold $450.0 million aggregate principal amount of its 3.50% Convertible Senior Notes due 2030 (the “ Notes ”), pursuant to an indenture (the “ Indenture ”), dated as of March 1, 2024, between the Company and U.S. Bank Trust Company, National Association, as trustee (the “ Trustee ”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/876167/000155278124000058/0001552781-24-000058-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"U.S. Bank Trust Company, National Association"},{"label":"Value","value":"$450.0 million aggregate principal amount"},{"label":"Effective","value":"2024-03-01"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}