secwatch.observer — SEC 8-K summary
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Issuer:     STEM, INC. (STEM)
CIK:        0001758766
Form:       8-K
Filed at:   2023-04-03T23:59:59+00:00
Accession:  0001758766-23-000054
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Stem issues $240M of 4.25% Green Convertible Notes due 2030, upsized from $200M
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- Net proceeds ~$232.3M; used $99.8M to repurchase $163M of existing 0.50% 2028 notes at discount.
- Initial conversion price ~$7.13 per share (27.5% premium to March 29 closing); shares issuable at company's election.
- Capped call transations with $11.18 cap price reduce potential dilution on conversion.
- Notes mature April 1, 2030; interest 4.25% semi-annually; redeemable after April 5, 2027 under conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1758766/000175876623000054/0001758766-23-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1758766/000175876623000054/stem-20230330.htm
  HTML page:      https://secwatch.observer/filing/0001758766-23-000054

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