PAR Technology (PAR) said Tuesday it plans to offer $100 million total principal amount of convertible senior notes due 2030 in a private offering.
The company also intends to provide the initial purchaser a 13-day option to buy up to an additional $15 million of notes.
PAR said it plans to use the net proceeds from the offering for the full repayment of its $90 million principal amount outstanding of the term loan under its credit deal with Blue Owl Capital (OBDC), and the remaining net proceeds for general corporate purposes.
The notes will not be redeemed before Jan. 20, 2028, at the company's discretion, it said.
Shares of PAR were down 6.4% in recent Tuesday trading.
Price: 68.55, Change: -4.65, Percent Change: -6.35
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