Loan & DebtMay 22, 2026, 05:22 PM
SiTime Completes $1.35B 0% Convertible Senior Notes Offering
AI Summary
SiTime Corporation completed its registered public offering of $1.35 billion aggregate principal amount of 0% Convertible Senior Notes due 2031, which included the full exercise of the underwriters' over-allotment option. The notes are unsecured and mature on June 15, 2031, with an initial conversion price of approximately $1,040.47 per share, representing a 50% premium. Net proceeds will fund a portion of the Renesas timing business acquisition, capped call transactions, and general corporate purposes.
Key Highlights
- Completed offering of $1.35 billion aggregate principal amount of 0% Convertible Senior Notes due 2031.
- Includes $150 million from full exercise of underwriters' over-allotment option.
- Notes are unsecured, bear no regular interest, and mature on June 15, 2031.
- Initial conversion price is $1,040.47 per share, a 50% premium to May 19, 2026 stock price.
- Net proceeds to fund Renesas timing business acquisition and $108.0 million for capped call transactions.
- Capped call transactions cover shares underlying notes, with a cap price of $1,734.15.
Price Impact
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