Semtech prices $350M convertible notes offering to refinance debt

* Semtech Corporation (NASDAQ:SMTC [https://seekingalpha.com/symbol/SMTC]) has priced a $350M private placement of 0% convertible senior notes due 2030 to qualified institutional buyers.
* The company granted initial purchasers an option to buy up to $52.5M in additional notes, with the offering expected to close on or around October 10, 2025.
* Net proceeds of approximately $340.2M will be used to exchange existing 2027 and 2028 convertible notes and to repay $56.3M of term loan debt.
* The initial conversion price is $101.05 per share, representing a 42.5% premium over the October 7, 2025 closing stock price.
* The company will also use $27.3 million in cash for capped call transactions to offset potential dilution, partially funded by terminating existing hedge instruments.
* The exchange of existing notes is expected to close on or around October 14, 2025.
* Source: Press release [https://seekingalpha.com/pr/20258427-semtech-corporation-announces-pricing-of-private-offering-of-350-million-of-new-convertible]

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