The company completed the sale of $650,000,000 aggregate principal amount of 2.875% Convertible Senior Notes due 2029 on February 26, 2026, including an additional $50,000,000 of notes purchased upon the full exercise of the initial purchasers' option.

1. 01

   The company completed the sale of $650,000,000 aggregate principal amount of 2.875% Convertible Senior Notes due 2029 on February 26, 2026, including an additional $50,000,000 of notes purchased upon the full exercise of the initial purchasers' option.

2. 02

   The company said net proceeds from the $650,000,000 senior convertible notes, after deducting initial purchaser discounts and other offering expenses, were approximately $641.5 million.

3. 03

   The company said the notes bear interest at 2.875% per year, payable semiannually in arrears on May 15 and November 15, and mature on May 15, 2029. It said that upon conversion it will pay cash up to the principal amount of the notes being converted, and at its election will pay or deliver cash, shares, or a combination of both for the remainder.

4. 04

   The company said the initial conversion rate is 18.6524 shares of common stock per $1,000 principal amount (an initial conversion price of about $53.61), a premium of about 25.0% over the New York Stock Exchange last reported sale price on February 23, 2026. It said a maximum of 15,155,010 shares may be issued upon conversion.

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Original filing

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