Onto Innovation announces $1.1B convertible notes offering due 2031, $300M share repurchase

ONTO INNOVATION INC.

Offering of $1.1B aggregate principal amount of convertible senior notes due 2031; option for additional $165M.
Up to ~$300M of net proceeds used to repurchase common stock concurrently with pricing.
Remaining proceeds for general corporate purposes, including financing 27% acquisition of Rigaku Holdings.
Capped call transactions expected to reduce potential dilution upon conversion of the notes.
Notes are senior unsecured obligations; interest rate, conversion rate set at pricing.

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