Advanced Energy announced the pricing of $1.0 billion aggregate principal amount of 0% convertible senior notes due 2029 in a private placement to institutional investors. The offering is expected to settle in late May 2026, subject to customary closing conditions.

The notes will be convertible into common stock at the holders’ option prior to maturity at a conversion rate to be determined based on prevailing market prices. Conversions may be settled in cash, shares or a combination thereof, at the company’s election.

Net proceeds from the offering will be used to repurchase outstanding shares and for general corporate purposes, enhancing liquidity while potentially reducing share count and boosting future earnings per share.