secwatch.observer — SEC 8-K summary
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Issuer:     ON SEMICONDUCTOR CORP (ON)
CIK:        0001097864
Form:       8-K
Filed at:   2026-05-07T23:59:59+00:00
Accession:  0001140361-26-019416
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

onsemi prices $1.3B 0% convertible senior notes due 2031; concurrent $332M share buyback
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- Priced $1.3B aggregate principal of 0% Convertible Senior Notes due 2031; initial purchasers option for additional $200M.
- Initial conversion price ~$161.30/share, a 52.5% premium over May 6 close of $105.77.
- Net proceeds ~$1,276.4M ($1,472.9M if option exercised); $61.2M for convertible note hedges, $331.9M to repurchase ~3.1M shares.
- Entered separate convertible note hedge and warrant transactions to offset potential dilution; warrant strike at $211.54/share.
- Closing expected May 11, 2026; notes mature May 1, 2031, subject to customary conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1097864/000114036126019416/0001140361-26-019416-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1097864/000114036126019416/ef20072662_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-019416

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