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LCI Industries Announces Pricing of Offering of $400 Million Aggregate Principal Amount of 3.00% Convertible Senior Notes
ELKHART, Ind., March 12, 2025--LCI Industries (NYSE: LCII) (the "Company"), a leading supplier of engineered components to the recreation and transportation markets, priced $400.0 million in aggregate principal amount of 3.00% convertible senior notes due 2030 (the "Notes") in a previously announced private placement (the "Offering") to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). In co
About this update from Lci Industries
[{"type":"text","content":"ELKHART, Ind., March 12, 2025--(BUSINESS WIRE)--LCI Industries (NYSE: LCII) (the "Company"), a leading supplier of engineered components to the recreation and transportation markets, priced $400.0 million in aggregate principal amount of 3.00% convertible senior notes due 2030 (the "Notes") in a previously announced private placement (the "Offering") to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). In connection with the Offering, the Company has granted the initial purchasers of the Notes an option to purchase, within a 13-day period from and including the date on which the Notes are first issued, up to an additional $60.0 million in aggregate principal amount of Notes (the "Option"). The sale of the Notes is expected to close on March 14, 2025, subject to customary closing conditions.","length":957,"tagName":"p"},{"type":"text","content":"The Notes will be general unsecured, senior obligations of the Company and will bear interest at a rate of 3.00% per year, payable semi-annually in arrears on March 1 and September 1 of each year, beginning on September 1, 2025. The Notes will mature on March 1, 2030, unless earlier converted, redeemed or repurchased in accordance with their terms prior to such date. Prior to the close of business on the business day immediately preceding November 1, 2029, noteholders may convert their Notes at their option only upon the satisfaction of certain conditions and during certain periods. On or after November 1, 2029 until the close of business on the second scheduled trading day immediately preceding the maturity date, noteholders may convert all or any portion of their Notes at any time.","length":794,"tagName":"p"},{"type":"text","content":"The Company will settle conversions by paying cash up to the aggregate principal amount of the Notes to be converted and paying or delivering, as the case may be, cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, at its election, in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of the Notes being converted, based on the then applicable conversion rate. Noteholders will have the right...