Granite settles $273.7M convertible notes, pays $715M cash and issues 662K shares

Filed August 13, 2026 · Period ending August 11, 2026 · ~1 min read

Key Changes

• high

  Settled $273.7M of 3.75% convertible notes due 2028 by paying $715M cash and issuing 662,383 shares, eliminating debt and future interest but diluting existing shareholders.

  Item 3.02 — Unregistered Sales of Equity Securities verify on EDGAR →
• high

  Unwound capped call hedges for $148M cash from counterparties, which partially funded the $715M settlement payment; the hedges had limited dilution from note conversions.

  Item 8.01 — Other Events verify on EDGAR →
• low

  Issued shares under Section 3(a)(9) exemption for exchanges with existing security holders, a standard procedural basis for convertible note conversions.

  Item 3.02 — Unregistered Sales of Equity Securities verify on EDGAR →