secwatch.observer — SEC 8-K summary
======================================

Issuer:     VISHAY INTERTECHNOLOGY INC (VSH)
CIK:        0000103730
Form:       8-K
Filed at:   2023-09-08T23:59:59+00:00
Accession:  0000103730-23-000076
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vishay prices $650M 2.25% convertible notes due 2030; proceeds to repurchase 2025 notes, repay debt
--------------------------------------------------------------------------------

- Offering upsized from $600M to $650M; initial purchasers' option for additional $100M.
- Conversion rate 33.1609 shares/$1,000 (20% premium to $25.13 close); cap price ~$43.98 per share.
- Net proceeds ~$632.7M: $388.8M to repurchase $370.2M of 2025 notes, $162.3M to repay credit facility, $81.6M for capped call.
- Notes mature Sep 15, 2030, interest 2.25% semi-annual; redeemable after Sep 20, 2027 if stock price >=130% of conversion price.
- Closing expected Sep 12, 2023; capped call transactions entered to reduce potential dilution.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/103730/000010373023000076/0000103730-23-000076-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/103730/000010373023000076/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0000103730-23-000076

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer