Itron Prices Upsized $700 Million 1.375% Convertible Senior Notes Offering
LIBERTY LAKE, Wash., June 17, 2024 (GLOBE NEWSWIRE) — Itron, Inc. (NASDAQ:ITRI) (the “Company”), which is innovating new ways for utilities and cities to manage energy and water, today announced the pricing of its private offering of $700 million aggregate principal amount of its 1.375% convertible senior notes due 2030 (the “Notes”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The offering size was increased from the previously announced offering size of $500 million aggregate principal amount of Notes. The Company also granted the initial purchasers of the Notes an option to purchase, for settlement during a 13-day period beginning on, and including the first day the Notes are issued, an additional $105 million aggregate principal amount of Notes. The offering is expected to settle on June 21, 2024, subject to customary closing conditions.