(RTTNews) - Microchip Technology Inc. (MCHP), Tuesday announced the pricing of an upsized private offering of $800 million of Convertible Senior Notes due 2030, higher than the initial offering of $600 million.
The notes will be convertible at an initial conversion rate of 9.5993 shares of common stock per $1,000 principal amount of notes.
Additionally, the company has granted the initial purchasers of the notes an option to purchase, within 13 days beginning on and including the date Microchip first issues the notes, upto an additional $100 million aggregate principal amount of the notes.
With expected settlement on February 11, 2026, the company intends to use the proceeds from the offering to pay capped call costs and repay commercial paper.
In the pre-market hours, MCHP is trading at $74.51, up 0.13 percent on the Nasdaq.
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