Semtech announces $350M 0% convertible notes due 2030 to exchange existing notes

SEMTECH CORP

Offering $350M aggregate principal of 0% convertible senior notes due 2030; initial purchasers may buy up to $52.5M additional.
Net proceeds used to exchange existing 1.625% notes due 2027 and 4.00% notes due 2028, and repay term loans.
Semtech expects to enter capped call transactions to reduce potential dilution upon conversion.
Notes offered in private placement under Rule 144A; unregistered and subject to market conditions.
Existing note holders may enter derivatives or buy shares, potentially affecting Semtech's stock price.

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