Semtech reports LTM net loss $440M; announces $250M convertible note offering

SEMTECH CORP

LTM net loss $440M (GAAP) vs. FY23 net income $61M; includes $280M goodwill impairment.
Adjusted EBITDA $169M, adjusted gross profit $454M for LTM ended Q2 FY24.
Third Amendment to credit agreement extends covenant relief to April 2026, contingent on $250M term loan prepayment.
Plans to issue $250M convertible senior notes due 2028; net proceeds plus cash to prepay term loans.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SEMTECH CORP amended Third Amendment to Third Amended and Restated Credit Agreement with JPMorgan Chase Bank, N.A., as administrative agent valued at $250 million (effective 2023-10-19).

Action: amendment
Agreement: credit facility
Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
Value: $250 million
Effective: 2023-10-19

Exact text from the filing

On October 19, 2023, Semtech Corporation (the “ Company ”), with certain of its domestic subsidiaries as guarantors, entered into that certain Third Amendment to Third Amended and Restated Credit Agreement (the “ Third Amendment ”) with the lenders referred to therein and JPMorgan Chase Bank, N.A., as administrative agent.

View on SEC.gov

38 material agreements filed in the last 30 days. Browse all material agreements →

SEMTECH CORP filing history →

Source: SEC EDGAR

accession 0000950103-23-015115

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.