02:16 PM EDT, 09/10/2025 (MT Newswires) -- (Updates with the latest stock move in the headline and the first paragraph.)

Astronics ( ATRO ) shares were up more than 14% in recent Wednesday trading, a day after the company said it plans to privately offer $210 million in convertible senior notes due 2031 to qualified institutional investors, with an additional $15 million option for initial purchasers.

The company plans to use the proceeds for capped call transactions to mitigate dilution and, together with credit facility borrowings, repurchase a portion of its 5.5% convertible notes due 2030.

Astronics ( ATRO ) noted that the capped calls are structured to counter dilution up to at least a 90% premium over the stock's average price on the offering's pricing date, the company said.

Price: 43.84, Change: +5.55, Percent Change: +14.49