Short answer
PEABODY ENERGY CORP (BTU) filed an 8-K current report with the SEC on June 2, 2026 reporting Item 1.01 (Entry into a Material Definitive Agreement), Item 2.03 (Creation of a Direct Financial Obligation), Item 3.02 (Unregistered Sales of Equity Securities). $250M convertible notes due 2031 at 0.50%, lowering cash interest cost versus conventional debt.
PEABODY ENERGY CORP 8-K event analysis
AI summary of each reported item and its exhibits
Item 1.01 · Entry into a Material Definitive Agreement
- $250M convertible notes due 2031 at 0.50%, lowering cash interest cost versus conventional debt
- $241.2M of 2028 notes repurchased for $388.8M cash, using proceeds plus available cash to refinance near-term convertibles
- Initial conversion price $38.32 per share, a 32.5% premium to Peabody’s $28.9197 stock price
- $16.7M allocated to capped calls, limiting dilution or excess conversion cash payments below the $50.6095 cap price
- Notes mature June 1, 2031, with no issuer redemption before June 5, 2029 except cleanup redemption
Item 3.02 · Unregistered Sales of Equity Securities
- Notes sold privately under Securities Act Section 4(a)(2), limiting public-market access
- Initial resale restricted to qualified institutional buyers under Rule 144A
- Notes and potential conversion shares unregistered, requiring registration or exemption for U.S. resale
- Potential future share issuance could create dilution for existing shareholders
Other items in this filing:
- Item 2.03: Creation of a Direct Financial Obligation
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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