Business Wire·May 14, 2026, 5:10 PM ET

Tyler Technologies, Inc. Announces Closing of Upsized Offering of $1,437,500,000 of 0.50% Convertible Senior Notes due 2031

Tyler Technologies closed a private offering of $1.4375 billion aggregate principal amount of 0.50% Convertible Senior Notes due July 15, 2031, including the full exercise of the initial purchasers' option for an additional $187.5 million.
Capped call transactions increased the effective conversion price to approximately $655.77 per share, representing a 110% premium above the May 11, 2026 market price.
Approximately $320.7 million of the net proceeds was used to repurchase 1,026,900 shares of common stock.
The initial conversion price is set at approximately $405.94 per share, reflecting a 30% premium over the last reported sale price of $312.27 on May 11, 2026.
Net proceeds from the issuance totaled approximately $1,408.1 million after deducting discounts, commissions, 8and estimated offering expenses.
Approximately $187.2 million of the net proceeds funded the cost of the capped call transactions to reduce potential dilution or offset cash payments in excess of the principal amount upon conversion.
Tyler intends to use the remaining net proceeds for general corporate purposes 8and may settle conversions either entirely in cash or in a combination of cash 8and shares at its election.
Year-to-date, Tyler has repurchased approximately 2.1 million shares for approximately $667 million, supporting its $1 billion share repurchase authorization.