Loan & DebtAug 11, 2026, 06:12 AM
Silicon Motion Prices $1.0B Convertible Senior Notes Offering
AI Summary
Silicon Motion Technology Corporation announced the pricing of an upsized offering of $1.0 billion aggregate principal amount of 0.00% convertible senior notes due 2031. The offering size was increased from the previously announced $800 million. The notes will mature on August 15, 2031, and have an initial conversion price of approximately $380.50 per ADS, representing a 65.0% premium. The company expects net proceeds of $980 million, which will be used for general corporate purposes and to repay outstanding credit agreement amounts.
Key Highlights
- Priced an upsized offering of $1.0 billion aggregate principal amount of 0.00% convertible senior notes due 2031.
- Offering size increased from previously announced $800 million.
- Notes mature on August 15, 2031, and will not bear regular interest.
- Initial conversion price is approximately $380.50 per ADS, a 65.0% premium over last reported sale price.
- Estimated net proceeds are $980 million, or $1,127 million if initial purchasers fully exercise their option.
- Proceeds intended for general corporate purposes and to repay amounts outstanding under its credit agreement.
Price Impact
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