The Chefs' Warehouse, Inc. Announces Redemption of All Outstanding 2.375% Convertible Senior Notes Due 2028
The Chefs' Warehouse, Inc. announced it has issued a redemption notice calling all $287.5 million aggregate principal amount of its 2.375% Convertible Senior Notes due 2028 for redemption on October 15, 2026. The redemption right arose because the last reported sale price of the company's common stock exceeded 130% of the conversion price on at least 20 trading days during the 30 consecutive trading days preceding the redemption notice date.
Why it matters — The redemption eliminates the company's outstanding convertible notes ahead of their 2028 maturity and reflects that the common stock has been trading well above the conversion price.