Lattice Semiconductor Prices $500M Convertible Notes Offering
Ticker: LSCC · Form: 8-K · Filed: Dec 9, 2024 · CIK: 855658
| Field | Detail |
|---|---|
| Company | Lattice Semiconductor Corp (LSCC) |
| Form Type | 8-K |
| Filed Date | Dec 9, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $100 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: debt-offering, convertible-notes, financing
Related Tickers: LSCC
TL;DR
Lattice Semiconductor just priced a $500M convertible note offering due 2029, closing Dec 9th.
AI Summary
On December 4, 2024, Lattice Semiconductor Corporation announced the pricing of its offering of $500 million aggregate principal amount of 0.375% Convertible Senior Notes due 2029. The offering is expected to close on December 9, 2024. Lattice Semiconductor also granted the initial purchasers an option to purchase up to an additional $75 million aggregate principal amount of notes.
Why It Matters
This offering provides Lattice Semiconductor with capital, potentially for growth initiatives or debt management, which could impact its future financial performance and stock valuation.
Risk Assessment
Risk Level: medium — Convertible notes can dilute existing shareholders if converted, and the interest rate on these notes is relatively low, suggesting a potential reliance on future stock price appreciation for conversion.
Key Numbers
- $500.0M — Convertible Senior Notes Offering (Principal amount of notes priced in the offering.)
- 0.375% — Interest Rate (Annual interest rate on the convertible senior notes.)
- 2029 — Maturity Date (Year the convertible senior notes are due.)
- $75.0M — Optional Purchase Amount (Additional principal amount of notes the initial purchasers may buy.)
Key Players & Entities
- Lattice Semiconductor Corporation (company) — Registrant
- $500 million (dollar_amount) — Aggregate principal amount of convertible senior notes
- 0.375% (dollar_amount) — Interest rate on convertible senior notes
- 2029 (dollar_amount) — Maturity year of convertible senior notes
- December 4, 2024 (dollar_amount) — Date of report and pricing
- December 9, 2024 (dollar_amount) — Expected closing date of the offering
- $75 million (dollar_amount) — Additional principal amount of notes option
FAQ
What is the purpose of the convertible senior notes offering?
The filing does not explicitly state the purpose of the offering, but such offerings are typically used for general corporate purposes, including potential acquisitions, research and development, or refinancing existing debt.
What is the conversion price of the notes?
The filing does not specify the conversion price of the notes. This information is usually detailed in the prospectus or related offering documents.
Who are the initial purchasers of the notes?
The filing mentions 'initial purchasers' but does not name them specifically. This information would typically be found in the prospectus supplement.
What is the impact of the optional purchase amount on the total offering size?
If the initial purchasers exercise their option, the total aggregate principal amount of notes sold could increase by up to an additional $75 million, bringing the total to $575 million.
When is the expected closing date for this offering?
The offering is expected to close on December 9, 2024.
Filing Stats: 499 words · 2 min read · ~2 pages · Grade level 12 · Accepted 2024-12-09 08:57:05
Key Financial Figures
- $100 million — tion (the "Company") authorized up to a $100 million share purchase (the "2025 Repurchase Pr
Filing Documents
- lscc20241205_8k.htm (8-K) — 31KB
- ex_754586.htm (EX-99.1) — 14KB
- latticelogo.jpg (GRAPHIC) — 9KB
- 0001437749-24-036919.txt ( ) — 190KB
- lscc-20241204.xsd (EX-101.SCH) — 3KB
- lscc-20241204_def.xml (EX-101.DEF) — 11KB
- lscc-20241204_lab.xml (EX-101.LAB) — 15KB
- lscc-20241204_pre.xml (EX-101.PRE) — 11KB
- lscc20241205_8k_htm.xml (XML) — 3KB
01. Other Events
Item 8.01. Other Events. On December 4, 2024, the Board of Directors (the "Board") of Lattice Semiconductor Corporation (the "Company") authorized up to a $100 million share purchase (the "2025 Repurchase Program"). This authorization allows the Company to repurchase shares of its common stock until December 31, 2025. A copy of the Company's press release announcing the 2025 Repurchase Program is attached hereto as Exhibit 99.1 and incorporated herein by reference.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits The following exhibits are being furnished herewith: Exhibit No. Description 99.1 Press release issued by Lattice Semiconductor Corporation dated December 9, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. LATTICE SEMICONDUCTOR CORPORATION By: /s/ Tracy Feanny Date: December 9, 2024 Tracy Feanny Senior Vice President, General Counsel and Corporate Secretary EXHIBIT INDEX Exhibit No. Description 99.1 Press release issued by Lattice Semiconductor Corporation dated December 9, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 3