secwatch.observer — SEC 8-K summary
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Issuer:     SEMTECH CORP (SMTC)
CIK:        0000088941
Form:       8-K
Filed at:   2023-10-19T23:59:59+00:00
Accession:  0000950103-23-015115
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/88941/000095010323015115/0000950103-23-015115-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/88941/000095010323015115/dp201541_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-23-015115

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