Cohu closes $287.5M convertible notes offering at 1.50% due 2031

COHU INC

Issued $287.5M principal of 1.50% convertible senior notes due Jan 15, 2031; initial purchasers' option exercised in full.
Net proceeds ~$278.9M; used $28.4M for capped call transactions, remainder for general corporate purposes.
Initial conversion price ~$27.18 per share (32.5% premium over $20.51 reference price); capped call cap at $41.02.
Capped calls expected to reduce dilution upon conversion up to stock price of $41.02 per share.
Notes are senior unsecured, redeemable after Jan 22, 2029 under certain conditions.

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