Parsons Corp Reports Material Agreement & New Financial Obligation
Ticker: PSN · Form: 8-K · Filed: Feb 27, 2024 · CIK: 275880
Sentiment: neutral
Topics: material-agreement, debt, equity-sales, corporate-action
TL;DR
**Parsons Corp just reported a new material agreement and financial obligation, details pending.**
AI Summary
Parsons Corporation filed an 8-K on February 27, 2024, reporting events that occurred on February 21, 2024. The filing indicates the company entered into a material definitive agreement and created a direct financial obligation. Additionally, the filing mentions unregistered sales of equity securities and Regulation FD disclosure. Specific details regarding the nature of the agreement, parties involved, or dollar amounts are not provided in this initial snippet.
Why It Matters
Entering into a material definitive agreement and creating a direct financial obligation can significantly impact a company's future operations, financial health, and strategic direction. Investors will need to review the full details to understand the potential benefits or burdens.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement and a new direct financial obligation, which could have significant, but currently unspecified, financial implications for the company.
Key Players & Entities
- PARSONS CORPORATION (company) — Registrant
- 06 Technology (company) — Organization Name
- February 21, 2024 (date) — Date of earliest event reported
- February 27, 2024 (date) — Filed as of date
FAQ
What is the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing is February 21, 2024.
What are two key items of information disclosed in this 8-K?
Two key items of information disclosed are 'Entry into a Material Definitive Agreement' and 'Creation of a Direct Financial Obligation'.
What is the exact name of the registrant for this filing?
The exact name of the registrant is PARSONS CORPORATION.
When was this 8-K filed as of?
This 8-K was filed as of February 27, 2024.
What is the state of incorporation for Parsons Corporation?
Parsons Corporation's state of incorporation is Delaware.
Filing Stats: 3,162 words · 13 min read · ~11 pages · Grade level 13.6 · Accepted 2024-02-26 19:07:10
Key Financial Figures
- $1 — nge on which registered Common Stock, $1 par value PSN New York Stock Exchan
- $700.0 million — ch the Company agreed to issue and sell $700.0 million aggregate principal amount of its 2.625
- $100.0 million — s are first issued, up to an additional $100.0 million aggregate principal amount of Notes on
- $800.0 million — ull on February 22, 2024 and a total of $800.0 million aggregate principal amount of Notes wer
- $131 — e Capped Call Transactions is initially $131.7575, which represents a premium of 75%
- $88.4 million — ped Call Transactions was approximately $88.4 million. The Capped Call Transactions are sep
- $1,000 — s is 10.6256 shares of common stock per $1,000 principal amount of Notes (which is equ
- $94.11 — itial conversion price of approximately $94.11 per share). The conversion rate will be
- $75.0 million — han all the outstanding Notes, at least $75.0 million aggregate principal amount of Notes mus
- $90,000,000 — tedness for money borrowed in excess of $90,000,000 (or its foreign currency equivalent) in
- $100 million — ck repurchase authority to an amount of $100 million and removed the $25 million quarterly c
- $25 million — amount of $100 million and removed the $25 million quarterly cap on such repurchases. A co
Filing Documents
- d799732d8k.htm (8-K) — 53KB
- d799732dex41.htm (EX-4.1) — 629KB
- d799732dex101.htm (EX-10.1) — 225KB
- d799732dex991.htm (EX-99.1) — 27KB
- d799732dex992.htm (EX-99.2) — 20KB
- d799732dex993.htm (EX-99.3) — 21KB
- d799732dex994.htm (EX-99.4) — 10KB
- g799732dsp157.jpg (GRAPHIC) — 4KB
- g799732g0226100006188.jpg (GRAPHIC) — 3KB
- g799732g0226231719665.jpg (GRAPHIC) — 2KB
- g799732g0226231719883.jpg (GRAPHIC) — 2KB
- g799732g0226231720005.jpg (GRAPHIC) — 2KB
- g799732g0226231720153.jpg (GRAPHIC) — 2KB
- g799732g0226231720263.jpg (GRAPHIC) — 2KB
- g799732g0226231720374.jpg (GRAPHIC) — 2KB
- g799732g0226233148030.jpg (GRAPHIC) — 6KB
- 0001193125-24-046496.txt ( ) — 1358KB
- psn-20240221.xsd (EX-101.SCH) — 3KB
- psn-20240221_lab.xml (EX-101.LAB) — 18KB
- psn-20240221_pre.xml (EX-101.PRE) — 11KB
- d799732d8k_htm.xml (XML) — 4KB
Financial Statements and Exhibits
Financial Statements and Exhibits . Exhibit No. Description 4.1 Indenture, dated as of February 26, 2024, between Parsons Corporation and U.S. Bank Trust Company, National Association. 4.2 Form of 2.625% Convertible Senior Note due 2029 (included in Exhibit 4.1). 10.1 Form of Confirmations of Base and Additional Call Option Transactions, between Parsons Corporation and the Option Counterparties. 99.1 Illustrative Table of Potential Dilutive Impact of Convertible Senior Notes due 2029 99.2 Press Release, dated February 21, 2024 99.3 Press Release, dated February 22, 2024 99.4 Press Release, dated February 23, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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. Date: February 26, 2024 PARSONS CORPORATION By: /s/ Matthew M. Ofilos Matthew M. Ofilos Chief Financial Officer