PAR Technology Rise 9%; Announces Pricing Of Public Offerings

Shares of PAR Technology Corp.(PAR) are gaining 9 percent on Wednesday's trading. The company announced the pricing of its concurrent underwritten public offerings of 892,857 shares and $235 million aggregate principal amount of 1.5 percent convertible senior notes due 2027.

The company expects to use the proceeds to repay in full its term loan and for general corporate purposes, like investment purposes and for other working capital needs. The offerings are expected to generate net proceeds of $275.4 million, or $309.3 million if the underwriters exercise their options to purchase the additional shares of common stock and 2027 notes.

Currently at $60.90, the stock has traded between $35.16 and $90.35 during the past 52 weeks.

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