Motorola Solutions to settle $1B convertible notes with Silver Lake for $1.59B cash

Motorola Solutions, Inc.

Motorola Solutions to pay $1.59B cash to retire $1B principal of 1.75% convertible notes due Sept 2024.
Agreement triggered by Motorola's right to redeem after share price milestone.
Silver Lake's Greg Mondre and Egon Durban to continue serving on Motorola Solutions board.
Settlement expected by March 28, 2024; funded with cash and short-term borrowings.
Dilution from 1.5M shares related to notes will be eliminated.

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