Tyler Technologies issues $1.44 billion in 0.50% convertible notes due 2031
Tyler Technologies closed a $1,437,500,000 offering of 0.50% convertible senior notes due July 15, 2031, including the full exercise of the initial purchasers' option. The company used about $320.7 million of the net proceeds to repurchase 1,026,900 shares and about $187.2 million to fund capped call transactions, which raise the effective conversion price to about $655.77 per share. The filing says the capped calls are expected to reduce potential dilution to shareholders, but the notes add $1.44 billion of debt.
Key points
- Notes: $1,437,500,000 principal, 0.50% interest, maturing July 15, 2031, issued May 14, 2026
- Initial conversion price about $405.94 per share, a premium of about 30% over the $312.27 closing price on May 11, 2026
- About $320.7 million of net proceeds used to repurchase 1,026,900 shares; CEO Lynn Moore cited about 2.1 million shares repurchased year to date for about $667 million
- Net proceeds about $1,408.1 million; about $187.2 million used for capped call transactions
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:11 AM ET, from the text of the filing and its press-release exhibits 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 May 14, 2026.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.