Vishay Opens July–October Conversion Window for 2.25% Notes Due 2030
VSH•Vishay notified holders that its 2.25% convertible senior notes due 2030 are convertible from July 5 through October 3, 2026, following its stock closing above 130% of the $30.16 conversion price for 20 trading days. Each $1,000 principal amount converts at 33.1609 shares, with cash or share settlement at the company’s election.
1. Conversion Period Announcement
Vishay announced that holders may elect to convert their 2.25% senior notes due 2030 beginning July 5, 2026, through the close of business on October 3, 2026. The company has issued formal notice to holders, with HSBC Bank USA serving as the conversion agent.
2. Conversion Terms
Each $1,000 principal amount of notes is convertible at a rate of 33.1609 shares of common stock, implying a conversion price of approximately $30.16 per share. Vishay may settle conversion obligations in cash up to the principal amount and in cash, shares or a combination thereof for any excess value.
3. Trigger Condition
Convertibility was activated after Vishay’s share price exceeded 130% of the applicable conversion price for at least 20 of the 30 trading days ending July 4, 2026. Future convertibility windows will follow the indenture terms based on share price performance.
4. Potential Impact
Conversion could reduce outstanding debt by the principal amount converted and increase share count by up to the exchanged shares. The settlement mix and timing could influence dilution, earnings per share and the company’s leverage metrics.
