---
schema_version: "secwatch.filing_event.v1"
accession: "0001157523-21-000849"
form_type: "8-K"
ticker: "CRUS"
cik: "0000772406"
company_name: "CIRRUS LOGIC, INC."
filed_at: "2021-07-08T23:59:59+00:00"
generated_at: "2026-06-30T06:45:36.666488+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Cirrus Logic to buy Lion Semiconductor for $335M cash; secures $300M credit line

## Summary
- Cirrus Logic to acquire Lion Semiconductor for $335M cash; close in fiscal Q2 2021.
- Merger consideration subject to adjustments for cash, debt, net working capital, and holdback.
- New $300M senior secured revolver with Wells Fargo replaces existing credit; matures July 2026.
- Credit facility pricing: LIBOR + 1.00%-1.75% based on leverage; commitment fee 0.175%-0.275%.
- Merger requires Lion stockholder approval; termination date August 19, 2021.

## SEC filing metadata
- accession: 0001157523-21-000849
- form_type: 8-K
- ticker: CRUS
- cik: 0000772406
- company_name: CIRRUS LOGIC, INC.
- filed_at: 2021-07-08T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/772406/000115752321000849/0001157523-21-000849-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/772406/000115752321000849/a52456798.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001157523-21-000849
- JSON: https://secwatch.observer/filing/0001157523-21-000849.json
- Plain text: https://secwatch.observer/filing/0001157523-21-000849.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.