Delek Closes $460M Convertible Notes Offering at 27.5% Premium
DK has more than doubled off its 52-week low of $25.85.
Summary
Delek US Holdings closed a $460 million convertible notes offering with a 0% coupon and 27.5% conversion premium, using proceeds to repay term loan debt.
Key Events · Financing and Capital Events · DK
-
$460M Convertible Notes Offering Closed
Delek completed its private offering of 0.00% convertible senior notes due 2031, upsized from $400M to $460M after full exercise of the $60M greenshoe option.
-
Conversion Premium of 27.5%
Initial conversion price of $85.31 per share represents a 27.5% premium over the $66.91 last reported sale price on September 24, 2026.
-
Net Proceeds of $449.1M
After deducting initial purchasers' discounts and commissions, net proceeds will partially repay the Term Loan Credit Facility and fund general corporate purposes.
-
Capped Call Transactions
Company spent $34.3M on capped calls with a cap price of $117.09 per share to offset potential dilution from note conversions.
Analysis · DK · Energy & Transportation
Delek US Holdings completed its upsized $460 million convertible senior notes offering, exercising the full $60 million greenshoe option. The notes carry a 0.00% coupon with a conversion price of $85.31 per share — a 27.5% premium to the $66.91 reference price at pricing. Net proceeds of $449.1 million will partially repay the Term Loan Credit Facility, improving balance sheet flexibility. The company spent $34.3 million on capped call transactions to offset potential dilution up to $117.09 per share. This is a substantial capital raise that strengthens liquidity while limiting near-term equity dilution.
How filings like this one have moved
In the 30 days to Nov 6, 2026, 35.2% of the 2649 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, DK was trading at $68.73 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.2B. The 52-week trading range was $25.85 to $82.27. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.