Tyler Technologies Inc.
Tyler Technologies Announces Issuance of $1.44 Billion Convertible Senior Notes and Share Repurchase
Summary
Tyler Technologies, Inc. has issued $1,437,500,000 aggregate principal amount of 0.50% Convertible Senior Notes due 2031, which were sold in a private offering to qualified institutional buyers. The company also used approximately $320.7 million of the net proceeds to repurchase 1,026,900 shares of its common stock. The notes are convertible into shares of Tyler's common stock at an initial conversion price of approximately $405.94 per share, with capped call transactions increasing the effective conversion price to approximately $655.77 per share. The company intends to use the remaining net proceeds for general corporate purposes.
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About Tyler Technologies Inc.
Tyler Technologies Inc. delivers integrated software solutions and services for public sector organizations across the United States, aiming to empower government entities to become more efficient and transparent. The company's comprehensive product suite covers a wide range of administrative functions, including enterprise resource planning, public safety, justice, tax, appraisal evaluations, and citizen services. By providing these critical systems, Tyler Technologies supports various sectors from local government offices to educational institutions and court systems, ensuring the smooth operation and management of public resources and records. A significant player in the GovTech industry, Tyler Technologies focuses on facilitating digital transformation, helping clients transition to digital-first services, and improving service delivery to communities. Established in 1966 and headquartered in Plano, Texas, the company plays a pivotal role in modernizing government technology, creating scalable solutions designed to meet the unique needs of public sector clients.
Official SEC Documents
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