PAR Technology tumbles on planned $225 mln convertible bond offering

PAR Technology

12/03/2026 20:59

** Restaurant point-of-sale (POS) provider PAR Technology PAR.N shares down 19.8% to $12.71, about a 6-yr low, as it seeks capital raise

** New Hartford, New York-based PAR announces private offering of $225 mln convertible bonds (CBs) due 2031

** It intends to use net proceeds to repurchase a portion of its 1.50% CBs due 2027, repurchase its shares to facilitate hedging transactions, and for general corp purposes

** Co also may use some proceeds to acquire or invest in companies, products, or technologies complementary to its business

** With ~41.2 mln shares outstanding, co has roughly $650 mln market cap

** Stock on Thurs ended down 5.6% at $15.85. YTD, stock down 56% as jitters about AI disruption have routed software names

** 9 of 10 analysts rate stock "strong buy" or "buy", 1 "hold"; median PT of $42 down from $60 a month ago, per LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))