Par Technology Corp 8-K Filing

Ticker: PAR · Form: 8-K · Filed: Nov 21, 2024 · CIK: 708821

Par Technology Corp 8-K Filing Summary
FieldDetail
CompanyPar Technology Corp (PAR)
Form Type8-K
Filed DateNov 21, 2024
Pages3
Reading Time3 min
Key Dollar Amounts$100 million, $0.02, $336,000, $20 million
Sentimentneutral

Sentiment: neutral

FAQ

What type of filing is this?

This is a 8-K filing submitted by Par Technology Corp (ticker: PAR) to the SEC on Nov 21, 2024.

What are the key financial figures in this filing?

Key dollar amounts include: $100 million (otes due 2026 (the "Notes") to exchange $100 million aggregate principal amount of the Notes); $0.02 (f the Company's common stock, par value $0.02 per share (the "Common Stock"), plus ap); $336,000 (the "Common Stock"), plus approximately $336,000 in cash equal to accrued and unpaid int); $20 million (ing the Notes Exchange, an aggregate of $20 million principal amount of the Notes will rema).

How long is this filing?

Par Technology Corp's 8-K filing is 3 pages with approximately 763 words. Estimated reading time is 3 minutes.

Where can I view the full 8-K filing?

The complete filing is available on SEC EDGAR. You can also read the AI-decoded analysis with risk assessment and key highlights on ReadTheFiling.

Filing Stats: 763 words · 3 min read · ~3 pages · Grade level 11.9 · Accepted 2024-11-21 08:18:00

Key Financial Figures

  • $100 million — otes due 2026 (the "Notes") to exchange $100 million aggregate principal amount of the Notes
  • $0.02 — f the Company's common stock, par value $0.02 per share (the "Common Stock"), plus ap
  • $336,000 — the "Common Stock"), plus approximately $336,000 in cash equal to accrued and unpaid int
  • $20 million — ing the Notes Exchange, an aggregate of $20 million principal amount of the Notes will rema

Filing Documents

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On November 20, 2024, PAR Technology Corporation (the "Company" or "PAR") entered into separate and individually negotiated transactions (the "Exchange Agreements") with certain holders of its outstanding 2.875% Convertible Senior Notes due 2026 (the "Notes") to exchange $100 million aggregate principal amount of the Notes (the "Exchanged Notes") for approximately 2.4 million shares of the Company's common stock, par value $0.02 per share (the "Common Stock"), plus approximately $336,000 in cash equal to accrued and unpaid interest on the Exchanged Notes to, but excluding, the closing date (the "Notes Exchange"). The Notes Exchange is expected to close on November 27, 2024, subject to customary closing conditions. Following the Notes Exchange, an aggregate of $20 million principal amount of the Notes will remain outstanding. The Company will not receive any cash proceeds from the Notes Exchange. The Exchange Agreements provide for the Company to deliver and pay, as applicable, the shares of Common Stock and cash described above, and the Company will receive and cancel the Exchanged Notes. The Notes Exchange is being conducted pursuant to an exemption from registration under the Securities Act of 1933, as amended (the "Securities Act"), in reliance on Section 4(a)(2) of the Securities Act as transactions by an issuer not involving a public offering. This Current Report does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall it constitute an offer to sell, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The foregoing description of the Exchange Agreements does not purport to be complete and is qualified in its entirety by reference to the full text of the form of the Exchange Agreement, a copy of which is filed with this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by

02 Unregistered Sales of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities. The information in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference into this Item 3.02.

01 Other Events

Item 8.01 Other Events. On November 21, 2024, the Company issued a press release announcing the Notes Exchange, a copy of which is filed with this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Exhibit Description 10.1 Form of Exchange Agreement 99.1 Press Release, dated November 21 , 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PAR TECHNOLOGY CORPORATION (Registrant) Date: November 21, 2024 /s/ Bryan A. Menar Bryan A. Menar Chief Financial Officer (Principal Financial Officer)

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