Financing ·
Granite Construction called the outstanding $273.7 million aggregate principal amount of its 3.75% Convertible Senior…
GVAGranite Construction Inc
Granite Construction called the outstanding $273.7 million aggregate principal amount of its 3.75% Convertible Senior Notes due 2028 for redemption on May 19, 2026. On August 4, 2026, the Company entered into unwind agreements with financial institutions to terminate capped call transactions associated with these notes. The counterparties will pay cash based on the volume-weighted average price of Granite Construction's common stock during a five-day averaging period beginning August 4, 2026. Settlement is expected around August 11, 2026, with proceeds used to settle conversions on August 12, 2026. The company operates in the construction materials and infrastructure industry.