EZCORP announced the successful retirement of its $103.4 million aggregate principal amount of 2.375% Convertible Senior Notes Due 2025. These notes, originally issued in 2018, matured on May 1, 2025. This action effectively addresses a significant near-term debt maturity.
In connection with the company's election of physical settlement made in October 2024, holders converted approximately $97.0 million in principal amount of the notes. This conversion resulted in the issuance of approximately 6.1 million shares of EZCORP Class A Common Stock.
The remaining principal balance of approximately $6.4 million was repaid in cash. Additionally, the company made payments of $1.2 million for interest and cash in lieu of fractional shares. This strategic debt management enhances the company's financial stability.
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