Financing ·
Silicon Motion Technology Corporation priced an upsized private offering of $1,000,000,000 aggregate principal amount…
SIMOSilicon Motion Technology Corp
Silicon Motion Technology Corporation priced an upsized private offering of $1,000,000,000 aggregate principal amount of 0.00% convertible senior notes due 2031 on August 10, 2026, increasing the initial target from $800 million. The notes settle on August 13, 2026, and carry an option for purchasers to buy up to an additional $150,000,000 in principal amount within 13 days. Estimated net proceeds are $980 million, or $1,127 million if the over-allotment is fully exercised, intended for general corporate purposes and credit agreement repayment. The notes convert at an initial rate of 2.6281 ADSs per $1,000 principal, representing a conversion price of approximately $380.50 per ADS, a 65% premium to the August 10 closing price of $230.61. Silicon Motion Technology Corporation is a global leader in designing and marketing NAND flash controllers for solid-state storage devices.