Westrock Coffee note conversion price cut to $9.50
The cash redemption right applies if Westrock's closing stock price is equal to or greater than $14.25 for more than 120 consecutive trading days.
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Rhea-AI Filing Summary
Westrock Coffee Co director A. Wellford Tabor amended and restated the terms of the 5.00% convertible senior notes due 2029 held by him. The conversion price was reduced from $12.84 to $9.50 per share, the maturity was extended from February 15, 2029 to January 31, 2032, and the interest rate increased from 5% to 6%. The revised terms provide a $14.25-per-share cash redemption right on an as-converted basis if the common stock closing price is equal to or greater than $14.25 for more than 120 consecutive trading days.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | 5% Convertible Notes due 2029 F1 | -- | $2,000,000.00 | -- |
| Other | 6% Convertible Notes due 2032 F1 | -- | $2,000,000.00 | -- |
Footnotes (1)
- F1. On October 21, 2026, Westrock Coffee Company (the "Issuer") and the Reporting Person amended and restated the terms of the 5.00% convertible senior notes due 2029 held by the Reporting Person, to, among other things, reduce the conversion price from $12.84 per share to $9.50 per share, extend the maturity date from February 15, 2029 to January 31, 2032, increase the interest rate from 5% to 6% and provide for a cash redemption right of $14.25 per share on an as-converted basis if the closing price of the Issuer's common stock for more than 120 consecutive trading days is equal to or greater than $14.25.
Key Figures
Key Terms
convertible senior notes financial
conversion price financial
as-converted basis financial
cash redemption right financial
FAQ
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When can WEST's amended convertible notes be redeemed for cash?
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