SEMTECH CORP (SMTC): debt financing — Semtech prices $402.5M of 0% convertible notes due 2030; exchanges existing notes and repays term loans

SEMTECH CORP

Issued $402.5M aggregate of 0% convertible senior notes due 2030, after full greenshoe exercise.
Net proceeds ~$391.2M; used to exchange ~$219M of 1.625% 2027 notes and ~$61.95M of 4.00% 2028 notes, plus repay $56.3M term loans.
Initial conversion price $101.05/share, 42.5% premium over Oct 7 close of $70.91; capped call transactions cap at $141.82.
Notes mature Oct 15, 2030; no regular interest; redeemable after Oct 20, 2028 under stock price conditions.
Exchanges expected to close by Oct 14, 2025; $100.5M of 2027 notes remain outstanding.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SEMTECH CORP incurred convertible notes of up to an additional $52.5 million aggregate principal amount of Notes with U.S. Bank Trust Company, National Association maturing 2030.

Instrument: convertible notes
Principal: up to an additional $52.5 million aggregate principal amount of Notes
Counterparty: U.S. Bank Trust Company, National Association
Maturity: 2030
Event: incurrence

Exact text from the filing

The Company also granted the Initial Purchasers (as defined below) of the Notes an option to purchase, for settlement by (and including) October 15, 2025, up to an additional $52.5 million aggregate principal amount of Notes on the same terms and conditions. The Initial Purchasers exercised their option in full on October 8, 2025, bringing the total aggregate

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Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

SEMTECH CORP incurred convertible notes of $350 million in aggregate principal amount of 0% Convertible Senior Notes due 2030 with U.S. Bank Trust Company, National Association maturing 2030.

Instrument: convertible notes
Principal: $350 million in aggregate principal amount of 0% Convertible Senior Notes due 2030
Counterparty: U.S. Bank Trust Company, National Association
Maturity: 2030
Event: incurrence

Exact text from the filing

On October 7, 2025, Semtech Corporation (the “Company”) priced its offering of $350 million in aggregate principal amount of 0% Convertible Senior Notes due 2030 (the “Notes”).

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304 debt financings filed in the last 30 days. Browse all debt financings →

SEMTECH CORP filing history →

Source: SEC EDGAR

accession 0001193125-25-237190

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