Silicon Motion closes upsized USD 1.15 billion 0% convertible senior notes offering due 2031
SIMO•Conversion terms
The notes carry an initial conversion price of about USD 380.5 per ADS, a 65% premium to the Aug. 10 close.
Proceeds and use of funds
Net proceeds totaled USD 1.13 billion, earmarked for general corporate purposes and repaying credit agreement borrowings.
Upsized convertible notes offering closes
Silicon Motion closed an upsized private offering of USD 1.15 billion 0.00% Convertible Senior Notes due 2031.
The deal expanded from an initial USD 800 million target, including full exercise of an additional USD 150 million option.
