Allegro completes Polar Semiconductor recapitalization, retains ~10.2% stake

ALLEGRO MICROSYSTEMS, INC.

Allegro contributed Polar equity and discharged ~$6.6M debt for ~10.2% ownership in Polar Parent.
PS Investment Aggregator made $175M capital contributions to Polar in exchange for equity.
Director Paul Carl 'Chip' Schorr IV resigned from board effective Sept 20, 2024; not due to disagreement.
Sanken Electric remains largest ALGM stockholder (~32.5%); its director Katsumi Kawashima sits on Allegro board.
New limited partnership agreement grants Allegro participation, approval, and information rights.

item 1.01 item 5.02 item 9.01

Executive movements

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Departed

Paul Carl “Chip” Schorr IV

Director

ALGM · ALLEGRO MICROSYSTEMS, INC.

Effective: 2024-09-20
Filed: September 24, 2024, 7:59 PM ET

Paul Carl “Chip” Schorr IV notified the Board of his decision to resign from the Board and as a member of the Board’s Strategy Committee, effective September 20, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Paul Carl “Chip” Schorr IV resigned as Director at ALLEGRO MICROSYSTEMS, INC..

Action: resigned
Role: Director

Exact text from the filing

Paul Carl “Chip” Schorr IV notified the Board of his decision to resign from the Board and as a member of the Board’s Strategy Committee, effective September 20, 2024.

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ALLEGRO MICROSYSTEMS, INC. filing history →

Source: SEC EDGAR

accession 0000950170-24-109070

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