ALLEGRO MICROSYSTEMS, INC. (ALGM): M&A transaction — Allegro MicroSystems closes $420M acquisition of Crocus Technology, funds with $250M term loan

ALLEGRO MICROSYSTEMS, INC.

Completed acquisition of Crocus Technology for $420M in cash, combining TMR sensor portfolios.
Funded via $250M senior secured term loan (SOFR+2.75%) maturing October 2030 and cash on hand.
TMR sensing technology estimated 30% CAGR through 2030; acquisition accelerates Allegro's roadmap.
Existing term loan facility repaid and terminated; new facility amortizes at 1% per annum.
Deal strengthens Allegro's position in e-Mobility, Clean Energy, and Automation markets.

item 1.01 item 1.02 item 2.01 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ALLEGRO MICROSYSTEMS, INC. completed an acquisition involving Crocus Technology International Corp (Crocus) (closed 2023-10-31).

Action: acquisition
Counterparty: Crocus Technology International Corp (Crocus)
Closing: 2023-10-31

Exact text from the filing

On October 31, 2023, the Company completed its previously announced transaction with Crocus pursuant to the Agreement and Plan of Merger

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

ALLEGRO MICROSYSTEMS, INC. amended Amended Credit Agreement with Allegro MicroSystems, Inc. valued at $250,000,000 new term loan facility (effective 2023-10-31).

Action: amendment
Agreement: credit facility
Counterparty: Allegro MicroSystems, Inc.
Value: $250,000,000 new term loan facility
Effective: 2023-10-31

Exact text from the filing

On October 31, 2023, Allegro MicroSystems, Inc. (the “ Company ”) entered into an amendment (the “ Amendment ”) to the credit agreement, dated as of June 21, 2023, by and among the Company, Morgan Stanley Senior Funding, Inc., as administrative agent (in such capacity, the “ Agent ”) and collateral agent, and each lender from time to time party thereto (as amended, restated, amended and restated, supplemented or otherwise modified from time to time prior to the date hereof, the “ Existing Credit Agreement ”; the Existing Credit Agreement, as amended by the Amendment, the “ Amended Credit Agreement ”).

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.98

ALLEGRO MICROSYSTEMS, INC. terminated Existing Term Facility with Allegro MicroSystems, Inc. valued at Repaid all outstanding loans and terminated commitments (effective 2023-10-31).

Action: termination
Agreement: credit facility
Counterparty: Allegro MicroSystems, Inc.
Value: Repaid all outstanding loans and terminated commitments
Effective: 2023-10-31

Exact text from the filing

Substantially simultaneously with its entry into the Amendment No. 1 Term Facility described in Item 1.01 above, the Company repaid all outstanding loans and terminated all commitments and obligations under its Existing Term Facility.

View on SEC.gov

74 m&a transactions filed in the last 30 days. Browse all m&a transactions →

ALLEGRO MICROSYSTEMS, INC. filing history →

Source: SEC EDGAR

accession 0000950170-23-056993

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.