Tetra Tech, Inc. (NASDAQ:TTEK), a leading provider of high-end consulting and engineering services, announced today the pricing of $500.0 million aggregate principal amount of 2.25% Convertible Senior Notes due 2028 (the “notes”) in a private placement (the “offering”) only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Tetra Tech has also granted the initial purchasers of the notes an option to purchase, during a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $75.0 million aggregate principal amount of the notes. The sale of the notes to the initial purchasers is expected to close on August 22, 2023, subject to customary closing conditions.
Homebuilders Are Throwing Money At Buyers At A Furious Pace Just To Close A Sale, Data Finds
Homebuilders are increasing incentives just as they did before the COVID-19 pandemic to entice potential buyers of newly constructed homes amid slowing sales.
These factors include rising mortgage rates, increased pricing and shifting consumer perception.
