Peabody Announces Pricing of $225 Million Convertible Notes Offering
Peabody "announced the pricing of its offering of $225,000,000 aggregate principal amount of 0.50% convertible senior notes due 2031 in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The issuance and sale of the notes is scheduled to settle on June 2, 2026, subject to customary closing conditions. Peabody also granted the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $25,000,000 principal amount of notes. The initial conversion rate is 26.0970 shares of common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $38.32 per share of common stock. The initial conversion price represents a premium of approximately 32.5% over the U.S. composite volume weighted average price of Peabody's common stock from 9:30 a.m. through 4:00 p.m. Eastern Daylight Time on May 28, 2026, which was $28.9197 per share. The conversion rate and conversion price will be subject to adjustment upon the occurrence of certain events."
