Semtech to exchange $183M convertible notes due 2028 for common stock

SEMTECH CORP

Approximately $183M aggregate principal of 4.00% Convertible Senior Notes due 2028 exchanged for common stock.
Exchange expected to close on or about July 24, 2024, subject to customary closing conditions.
Assuming per share VWAP of $36.90, Semtech would issue ~9.9 million shares of common stock.
Reaffirms Q2 FY2025 financial outlook; reports fourth consecutive quarter of sequential bookings growth.
Received initial bookings for products supporting active copper cable applications.

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