BKV Corporation announced the pricing of an upsized offering of $500 million aggregate principal amount of 1.625% convertible senior notes due 2031, increased from the previously announced $400 million offering size. The notes, senior unsecured obligations of the company, are scheduled to settle on September 14, 2026, and BKV granted the initial purchasers an option to buy up to an additional $75 million principal amount. The initial conversion rate is 31.3161 shares of common stock per $1,000 principal amount, equal to an initial conversion price of approximately $31.93 per share, a premium of approximately 32.5% over the last reported sale price of $24.10 on September 9, 2026. BKV estimates net proceeds of approximately $481.8 million, or approximately $554.7 million if the initial purchasers fully exercise their option, and intends to use approximately $56.3 million to fund capped call transactions and approximately $35.0 million to repurchase 1,452,282 shares of common stock, with the remainder for general corporate purposes including repayment of outstanding indebtedness and capital expenditures. The capped call transactions have an initial cap price of $48.20 per share, a premium of 100% over the last reported sale price.
BKV CorporationBKV prices an upsized $500M convertible notes offering, raising capital for debt repayment and capex.
