---
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"
generated_at: "2026-05-21T20:50:50.491331+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- $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.

## SEC filing metadata
- 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
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/704532/000119312526234610/0001193125-26-234610-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/704532/000119312526234610/d17904d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-234610
- JSON: https://secwatch.observer/filing/0001193125-26-234610.json
- Plain text: https://secwatch.observer/filing/0001193125-26-234610.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.