Onto Innovation issues $1.5B of zero-coupon convertible notes due 2031, uses ~$205M for share repurchase

ONTO INNOVATION INC.

$1.5B aggregate principal of 0.00% convertible notes due 2031; initial conversion price ~$381.80/share (50% premium to May 18 close).
Capped call transactions with initial cap price $509.06/share (100% premium to last sale) to offset dilution on conversion.
Concurrent share repurchase of ~$205M (805,325 shares at $254.53/share) using part of net proceeds.
Proceeds also used to fund ~$77.1M cost of capped calls and for general corporate purposes including acquisition of Rigaku Holdings.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

Machine-readable event card

schema_version: secwatch.filing_event.v1
accession: 0001193125-26-234610
form_type: 8-K
ticker: ONTO
cik: 0000704532
company_name: ONTO INNOVATION INC.
filed_at: 2026-05-21T20:38:49+00:00
discovered_at: 2026-05-21T20:39:33.309546+00:00
generated_at: 2026-05-21T20:50:50.491331+00:00
sec_items: ["1.01", "2.03", "3.02", "8.01", "9.01"]
event_type: debt
sentiment: neutral
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: high
secwatch_canonical_url: https://secwatch.observer/filing/0001193125-26-234610
json_url: https://secwatch.observer/filing/0001193125-26-234610.json
markdown_url: https://secwatch.observer/filing/0001193125-26-234610.md
text_url: https://secwatch.observer/filing/0001193125-26-234610.txt
edgar_index_url: https://www.sec.gov/Archives/edgar/data/704532/000119312526234610/0001193125-26-234610-index.htm
edgar_primary_document_url: https://www.sec.gov/Archives/edgar/data/704532/000119312526234610/d17904d8k.htm
generated_by_model: deepseek-v4-flash:cloud@v2
review_status: machine_generated
human_reviewed: false
corrected: false
correction_note: null
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superseded_by: null

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Source: SEC EDGAR

accession 0001193125-26-234610

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