secwatch.observer — SEC 8-K summary
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Issuer:     ON SEMICONDUCTOR CORP (ON)
CIK:        0001097864
Form:       8-K
Filed at:   2026-05-11T22:37:57+00:00
Accession:  0001140361-26-020642
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

ON Semiconductor issues $1.5B 0% Convertible Notes due 2031; enters hedge and warrant deals
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- $1.5B principal, zero-coupon, due May 1, 2031; initial conversion price ~$161.30 per share.
- Net proceeds ~$1.4729B; ~$70.7M used for note hedges, ~$331.9M to repurchase 3.1M shares.
- Concurrent warrant transactions: strike price $211.54 (100% premium over $105.77 close), covering up to 18.6M shares.
- Notes are guaranteed by certain U.S. subsidiaries; redeemable after May 2029 if stock exceeds 130% of conversion price.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1097864/000114036126020642/0001140361-26-020642-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1097864/000114036126020642/ef20072923_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-020642

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