secwatch.observer — SEC 8-K summary
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Issuer:     MGP INGREDIENTS INC (MGPI)
CIK:        0000835011
Form:       8-K
Filed at:   2021-11-12T23:59:59+00:00
Accession:  0001628280-21-022919
Event type: debt
Sentiment:  neutral
Materiality: 0.90
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MGP Ingredients prices $175M convertible notes offering to reduce revolving credit facility debt
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- Priced $175 million aggregate principal amount of 1.875% convertible senior notes due 2041 in a private offering.
- Initial conversion price is approximately $96.24 per share, a 37.5% premium over the November 10 closing price of $69.99.
- Net proceeds estimated at $169.3 million ($194.8 million if over-allotment fully exercised) to reduce outstanding revolving credit facility balance.
- Initial purchasers granted option to buy up to an additional $26.25 million principal amount to cover over-allotments.
- Settlement scheduled for November 16, 2021; notes guaranteed by MGPI Processing, MGPI of Indiana, and Luxco.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/835011/000162828021022919/0001628280-21-022919-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/835011/000162828021022919/mgpi-20211110.htm
  HTML page:      https://secwatch.observer/filing/0001628280-21-022919

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