ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) Form 8-K — Oct 30, 2026
Essential Properties Realty Trust's operating subsidiary issued $517.5 million of 4.375% exchangeable senior notes due January 15, 2032 on October 30, 2026, including full exercise of a $67.5 million initial purchasers' option. The notes are fully and unconditionally guaranteed by the parent company and carry an initial exchange price of approximately $30.88 per share. The company simultaneously entered into capped call transactions costing approximately $21.5 million, which raise the effective conversion premium to roughly $36.25 per share — a 35% premium over the October 27, 2026 close of $26.85 — and are designed to reduce potential dilution.
Key figures
- Debt Amount
- 517500000
- Interest Rate
- 4.375
- Maturity Date
- January 15, 2032
- Exchange price
- approximately $30.88 per share
- Capped call cost
- approximately $21.5 million
- Max exchange rate
- 37.2439 shares per $1,000 principal
- Underlying shares
- 19273719
- Greenshoe exercised
- $67,500,000 initial purchasers' option fully exercised
- Capped call cap price
- approximately $36.25 per share (35% premium over $26.85 close on October 27, 2026)
- Initial exchange rate
- 32.3860 shares per $1,000 principal
- Partial redemption minimum
- $100,000,000
- Cleanup redemption threshold
- less than 10% of aggregate principal outstanding
AI analysis
The rest of the AI analysis, red flags and sentiment are part of Signal8 Pro.
AI-generated analysis of a public disclosure. Not investment advice; verify against the original document.