Microchip elects cash settlement for convertible notes with min $1,000 cash per $1,000 principal

MICROCHIP TECHNOLOGY INC

Irrevocable election to settle conversions of 2024, 2025, 2027, and 2037 convertible notes via combination settlement with at least $1,000 cash per $1,000 principal.
Election covers 1.625% Senior Subordinated Notes due 2025, 2.25% Junior Subordinated Notes due 2037, 1.625% Senior Subordinated Notes due 2027, and 0.125% Senior Subordinated Notes due 2024.
Specified Dollar Amount ensures noteholders receive par value in cash for any conversion, limiting stock dilution for Microchip.

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