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AI brief of an SEC Form 8-K · Delek US Holdings, Inc. (DK)

Delek US Holdings completes $460 million convertible notes offering due 2031

Neutral Impact 3 of 5 financing Written later

Delek US Holdings completed a private offering of $460 million of 0.00% convertible senior notes due November 1, 2031, including the initial purchasers' option exercised in full. The company received net proceeds of $449.1 million, and it will use part of them to fund capped call transactions and the rest for general corporate purposes, including partial repayment of its term loan. The notes are convertible at about $85.31 per share, and the capped calls are intended to reduce potential dilution to shareholders.

Key points

  • Aggregate principal of $460 million, including the $60 million additional option exercised on September 25, 2026
  • Net proceeds of $449.1 million after initial purchasers' discounts and commissions
  • Initial conversion price of about $85.31 per share, a 27.5% premium over the $66.91 closing price on September 24, 2026
  • Capped call transactions cost about $34.3 million, with a cap price of about $117.09 per share

The filing

CompanyDelek US Holdings, Inc. (DK)
Form8-K, current report
Filed with the SECSep 29, 2026, 5:24 PM ET
Accession number0001193125-26-407833

Items reported: 1.01 Material Definitive Agreement2.03 New Direct Financial Obligation3.02 Unregistered Equity Sale8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on September 29, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.