https://www.businesswire.com/news/home/20190410005919/en/

NEW HARTFORD, N.Y.--(BUSINESS WIRE)--Apr 10, 2019--PAR Technology Corporation (NYSE:PAR) ("Company" or "PAR"), announced today that it priced its private offering of $70 million aggregate principal amount of 4.500% Convertible Senior Notes due 2024 (the “Notes”). The Notes will be sold to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company also granted to the initial purchaser of the Notes a 30-day option to purchase up to an additional $10 million aggregate principal amount of Notes. The sale is expected to close on April 15, 2019, subject to customary closing conditions.

The Notes will be unsecured senior obligations of the Company. The Notes will mature on April 15, 2024, unless earlier purchased, redeemed or converted. Interest will accrue on the Notes at a rate of 4.500% per year and will be payable semiannually in arrears on April 15 and October 15 of each year, beginning on October 15, 2019.