Advanced Energy Announces Redemption of Its Remaining 2.50% Convertible Senior Notes Due 2028

Advanced Energy Announces Redemption of Its Remaining 2.50% Convertible Senior Notes Due 2028

Advanced Energy Industries, Inc. (“Advanced Energy” or the “Company”) (Nasdaq: AEIS), a global leader in highly engineered, precision power conversion, measurement, and control solutions, announced today that it has issued a notice of redemption (the “Redemption Notice”) to redeem all $136,709,000 of its remaining outstanding 2.50% Convertible Senior Notes due 2028 (CUSIP Number 007973AE0) (the "Notes") on September 23, 2026 (the “Redemption Date”).

The Company is redeeming the Notes pursuant to Section 16.01 of the Indenture, dated as of September 12, 2023 (the “Indenture”), between the Company and U.S. Bank Trust Company, National Association (the “Trustee”). The redemption price is 100% of the principal amount of the Notes, plus accrued but unpaid interest to, but excluding, the Redemption Date.

The Company is electing to settle conversions of Notes by paying cash in respect of the principal portion of the converted Notes and delivering shares of common stock in respect of the remainder (other than cash in lieu of any fractional share). As of the date of the Redemption Notice, each $1,000 principal amount of Notes is convertible into common stock of the Company at a conversion price of approximately $137.46 (based on the Conversion Rate of 7.2747 shares of common stock per $1,000 principal amount of Notes, as adjusted). For Notes converted in connection with the redemption notice, the conversion rate will be increased by 0.0743 additional shares of common stock per $1,000 principal amount of Notes in accordance with Section 14.03 of the Indenture. Holders may surrender their Notes for conversion at any time prior to the close of business (which is 5:00 p.m., New York City time), on September 22, 2026, the scheduled trading day immediately preceding the Redemption Date. Holders of the Notes that wish to convert their Notes must satisfy the requirements set forth in the Notes and the Indenture, including Section 14.02(b) of the Indenture. The Observation Period (as defined in the Indenture) for all conversions from the date of the Redemption Notice and prior to the close of business on the business day immediately preceding the Redemption Date will commence on June 26, 2026, the 61st scheduled trading day immediately preceding the Redemption Date, to September 21, 2026, expected to be the last day of the 60 consecutive trading day period commencing on June 26, 2026.