8-KOther EventsExhibits & Filings

EQT Corp 8-K Report, Corporate Update (Jan 2, 2024)

Filed January 2, 2024For Securities:EQT

Summary

EQT Corporation (EQT) has announced the irrevocable redemption of all its outstanding 1.75% Convertible Senior Notes due 2026. The total principal amount outstanding as of December 29, 2023, is approximately $290.18 million. Holders of these notes have the option to convert them into EQT common stock before a specified deadline, or accept the redemption price which includes the full principal amount plus accrued interest. This action signals a potential deleveraging or refinancing strategy by EQT. Investors should note the redemption date and the conversion deadline. The conversion rate has been adjusted to reflect the redemption notice. The company will settle conversions in shares of common stock, with fractional shares paid in cash. This redemption is solely in accordance with the notice issued on January 2, 2024.

Key Highlights

  • 1EQT Corporation is redeeming all outstanding 1.75% Convertible Senior Notes due 2026.
  • 2The principal amount of the notes to be redeemed is approximately $290.18 million.
  • 3The redemption date for the notes is January 17, 2024.
  • 4Holders can convert their notes into EQT common stock until January 12, 2024.
  • 5The conversion rate is 69.0364 shares of EQT common stock per $1,000 principal amount, adjusted due to the redemption notice.
  • 6The redemption price will be 100% of the principal amount plus accrued and unpaid interest.
  • 7Conversions will be settled in EQT common stock, with fractional shares paid in cash.

Frequently Asked Questions

EQT Corporation has issued an irrevocable notice to redeem all of its outstanding 1.75% Convertible Senior Notes due 2026. This means the company intends to pay off these notes.

As a holder of these notes, you have two primary options: 1) Convert your notes into EQT common stock at the current conversion rate of 69.0364 shares per $1,000 principal amount before 5:00 p.m. New York City time on January 12, 2024. 2) Hold your notes until the redemption date of January 17, 2024, and receive the redemption price, which is 100% of the principal amount plus accrued and unpaid interest.

As of December 29, 2023, the aggregate principal amount of the notes outstanding is $290,177,000.

EQT will settle any conversions solely in shares of EQT common stock. However, any fractional shares that would normally be issued will be paid out in cash.