Commenced a private offering of $275 million in convertible senior notes maturing in 2032. Initial purchasers have an option to acquire an additional $41.25 million in notes. Proceeds will be used to repurchase existing 0.25% convertible notes due 2028 and up to $25 million of common stock. The company plans to enter into capped call transactions to mitigate potential dilution from the new notes. The notes are senior, unsecured obligations with interest payable semi-annually.