MACOM refinances ~65% of 2026 convertibles with 0% notes due 2029 and common stock

MACOM Technology Solutions Holdings, Inc.

Exchanges $288.8M of 0.25% notes due 2026 for $257.7M of 0% notes due 2029 and ~1.6M shares.
Issues additional ~$86.6M of new 0% notes in a private subscription, raising gross proceeds.
Transactions expected to close Dec 19, 2024; pro forma net leverage neutral, cash +$61.7M.
New notes have initial conversion price ~$174.03, a 27.5% premium to Dec 12 close of $136.49.
J. Wood Capital and Barclays acted as financial advisors.

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