secwatch.observer — SEC 8-K summary
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Issuer:     PagerDuty, Inc. (PD)
CIK:        0001568100
Form:       8-K
Filed at:   2023-10-13T23:59:59+00:00
Accession:  0001568100-23-000048
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PagerDuty issues $402.5M of 1.50% convertible notes due 2028; repurchases $230M of 2025 notes and $50M of stock
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- $402.5M aggregate principal of 1.50% Convertible Senior Notes due 2028, initial conversion price $27.35 (27.5% premium to market).
- Net proceeds of ~$390.4M; used $55.1M for capped calls, $224.5M to repurchase $230M of 2025 notes, $50M to repurchase shares at $21.45.
- Capped call transactions set initial cap price at $42.90/share to offset dilution upon conversion of the new notes.
- Irrevocably elected cash settlement for remaining 2025 notes; converting holders receive cash up to $1,000 principal plus excess in cash/stock.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1568100/000156810023000048/0001568100-23-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1568100/000156810023000048/pd-20231009.htm
  HTML page:      https://secwatch.observer/filing/0001568100-23-000048

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