The Firm represented the initial purchasers in the offering of $402,500,000 aggregate principal amount of 0% Convertible Senior Notes due 2030 (the “Notes”) by Semtech Corporation (“Semtech”), which includes the full exercise of the initial purchasers’ option to purchase additional Notes. Semtech used a portion of the net proceeds of the offering, together with the issuance of shares of its common stock, as consideration for exchanges of its 1.625% convertible senior notes due 2027 and its 4.00% convertible senior notes due 2028. Semtech also used a portion of the net proceeds to repay term loans outstanding under its senior credit facilities.
The Firm also represented certain dealers in related capped call transactions entered into concurrently with the Notes offering.
Semtech is a leading provider of high-performance semiconductor, Internet of Things (IoT) systems and cloud connectivity service solutions dedicated to delivering high-quality technology solutions that enable a smarter, more connected and sustainable planet.
The Simpson Thacher team included Roxane Reardon, Matt Hart, Julie De Keukeleire and Jeryne Fish (Capital Markets); Jonathan Lindabury, Marc Langer, Ruben Aguirre and Cadina Mancini (Derivatives); Jonathan Cantor, Andrew Mandelbaum and Jemma Li (Tax); Kate Mirino (Intellectual Property); Pasco Struhs and Jeanne Annarumma (Executive Compensation and Employee Benefits); Timothy Gallagher (Real Estate); Timothy Mulvihill (Environmental); and Jennie Getsin (Blue Sky).