News: Microelectronics
8 April 2021
Purchaser of MACOM notes executes option for extra $50m
MACOM Technology Solutions Inc of Lowell, MA, USA (which makes semiconductors, components and subassemblies for analog RF, microwave, millimeter-wave and photonic applications) says that the initial purchaser in its offering of $400m convertible senior notes (announced on 22 March) has exercised its option to purchase an additional $50m of the notes.
The ‘Greenshoe’ clause provided the initial purchaser the option to purchase up to $60m additional notes under the same terms. No additional notes will be issued, resulting in a total of $450m convertible senior notes being issued.
MACOM intends to use the incremental net proceeds for further repayment of outstanding term loans.
