Synaptics issues $400M convertible notes due 2031; repurchases shares, repays debt

SYNAPTICS Inc

Issued $400M aggregate principal of 0.75% convertible senior notes due 2031; initial purchasers option for additional $50M.
Initial conversion price ~$99.69/share, a 32.5% premium over $75.24 closing price on Nov 14, 2024.
Net proceeds ~$387.7M; $44.4M for capped calls, ~$67M to repurchase 890,483 shares, remainder to repay term loan.
Capped call transactions with cap price $150.48/share (100% premium) to reduce dilution upon conversion.

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