secwatch.observer — SEC 8-K summary
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Issuer:     PROGRESS SOFTWARE CORP /MA (PRGS)
CIK:        0000876167
Form:       8-K
Filed at:   2024-03-01T23:59:59+00:00
Accession:  0001552781-24-000058
Event type: debt
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Progress Software issues $450M of 3.50% Convertible Senior Notes due 2030
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- $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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/876167/000155278124000058/0001552781-24-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/876167/000155278124000058/e24066_prgs-8k.htm
  HTML page:      https://secwatch.observer/filing/0001552781-24-000058

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