PAR Technology Corp. (PAR), Thursday announced the pricing of $100 million aggregate principal amount of 1.00 percent Convertible Senior Notes due 2030, amounting to a total of around $96.7 million.
The company has also granted the initial purchaser an option to purchase upto an additional $15 million aggregate principal amount of Notes.
The proceeds would be primarily used to repay outstanding loans to Blue Owl Capital Corp. (OBDC), while the remaining amount would be utilized for investment and other corporate-related purposes.
The company added that the Notes will be convertible into PAR's common stock at an initial conversion rate of 10.3089 shares per $1,000 principal amount.
The sale is expected to close on January 24.
In the pre-market hours, PAR is trading at $73.25, up 0.05 percent on the New York Stock Exchange.
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