Microchip issues 27M depositary shares of 7.5% mandatory convertible preferred stock

MICROCHIP TECHNOLOGY INC

Issued 27M depositary shares (each 1/20 interest in 7.5% Series A Mand Conv Pref); over-allotment 2.7M exercised in full.
Preferred stock liquidation preference $1,000/share, 7.5% annual dividend payable quarterly starting June 15, 2025.
Mandatory conversion March 15, 2028 into 16.0060–19.6080 common shares per preferred share, subject to anti-dilution.
Entered capped call transactions with RBC, BNP Paribas, Truist, BMO, TD to offset dilution; cap price $71.40 per share.
Certificate of Designations restricts common dividends and share repurchases unless preferred dividends paid in full.

Machine-readable event card

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company_name: MICROCHIP TECHNOLOGY INC
filed_at: 2025-03-25T23:59:59+00:00
discovered_at: 2026-05-14T18:03:06.456462+00:00
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