MGPI - MGP ingredients to raise $175M in convertible senior notes offering

MGP Ingredients (NASDAQ:MGPI) plans to offer $175M aggregate principal amount of convertible senior notes due 2041 in a private offering. Company intends to grant the initial purchasers of the notes an option to purchase, within a 13-day period from, and including the date on which the notes are first issued, up to an additional $26.25M aggregate principal amount of notes. The notes will mature on November 15, 2041. Interest will be payable semi-annually in arrears on May 15 and November 15 of each year, beginning on May 15, 2022. Beginning on November 15, 2026, holders will receive contingent interest for certain periods if the trading price of the notes exceeds a certain threshold. The notes will be redeemable, in whole or in part, for cash at MGP’s option, the redemption price will be equal to 100% of the principal amount of the notes to be redeemed, plus accrued and unpaid interest. The

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MGP ingredients to raise $175M in convertible senior notes offering