SITIME Corp (SITM): debt financing — SiTime closes $1.35B 0% convertible note offering to fund Renesas asset acquisition

SITIME Corp

Offering of $1.35B aggregate principal (incl. $150M over-allotment) of 0% Convertible Senior Notes due 2031 closed.
Initial conversion price ~$1,040.47/share, a 50% premium to May 19 close; net proceeds ~$1.32B.
Used $121.5M for capped call transactions with cap price $1,734.15/share (150% premium).
Net proceeds will partly fund the previously announced acquisition of Renesas timing assets.
Remainder for general corporate purposes; notes are unsecured, mature June 15, 2031.

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

SITIME Corp incurred convertible notes of $1.35 billion aggregate principal amount with U.S. Bank Trust Company, National Association at 0% maturing June 15, 2031.

Instrument: convertible notes
Principal: $1.35 billion aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 0%
Maturity: June 15, 2031
Event: incurrence

Exact text from the filing

Completion of Convertible Senior Notes Offering On May 22, 2026, SiTime Corporation (the “ Company ”) completed its registered underwritten public offering (the “ Offering ”) of $1.35 billion aggregate principal amount of 0% Convertible Senior Notes due 2031 (the “ Notes ”), pursuant to the Underwriting Agreement (the “ Underwriting Agreement ”) with Wells Fargo

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.97

SITIME Corp entered into Underwriting Agreement with Wells Fargo Securities, LLC and Goldman Sachs & Co. LLC valued at $1.35 billion aggregate principal amount of 0% Convertible Senior Notes due 2031 (effective 2026-05-22).

Action: entry
Agreement: underwriting
Counterparty: Wells Fargo Securities, LLC and Goldman Sachs & Co. LLC
Value: $1.35 billion aggregate principal amount of 0% Convertible Senior Notes due 2031
Effective: 2026-05-22

Exact text from the filing

On May 22, 2026, SiTime Corporation (the “ Company ”) completed its registered underwritten public offering (the “ Offering ”) of $1.35 billion aggregate principal amount of 0% Convertible Senior Notes due 2031 (the “ Notes ”), pursuant to the Underwriting Agreement (the “ Underwriting Agreement ”) with Wells Fargo Securities, LLC and Goldman Sachs & Co. LLC as representatives of the several Underwriters

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

SITIME Corp filing history →

Source: SEC EDGAR

accession 0001193125-26-237180

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