Microchip Technology Inc. Files 8-K with Key Agreements

TL;DR

Microchip filed an 8-K detailing material agreements and equity sales. Watch for financial implications.

AI Summary

On May 28, 2024, Microchip Technology Inc. entered into a material definitive agreement related to a direct financial obligation. The company also reported unregistered sales of equity securities and other events. The filing details include the company's principal executive offices located at 2355 West Chandler Boulevard, Chandler, Arizona.

Why It Matters

This 8-K filing indicates significant financial and equity-related activities for Microchip Technology Inc., potentially impacting its financial obligations and shareholder structure.

Risk Assessment

Risk Level: medium — The filing involves material definitive agreements and unregistered sales of equity, which can introduce financial and operational risks.

Key Players & Entities

• MICROCHIP TECHNOLOGY INC (company) — Registrant
• May 28, 2024 (date) — Date of earliest event reported
• 2355 West Chandler Boulevard, Chandler, Arizona 85224-6199 (location) — Address of Principal Executive Offices

FAQ

Key Financial Figures

• $0.001 — ange on Which Registered Common Stock $0.001 par value per share MCHP NASDAQ Sto
• $1.1 billion — Initial Purchasers"), to issue and sell $1.1 billion aggregate principal amount of its 0.75%
• $150 million — option to purchase up to an additional $150 million aggregate principal amount of such note
• $1,000 — price (as defined in the Indenture) per $1,000 principal amount of Notes for each trad
• $121.84 — itial conversion price of approximately $121.84 per share of Common Stock. The conversi
• $1.23 b — s from this offering were approximately $1.23 billion, after deducting the Initial Purc
• $105.0 million — ted offering expenses. The Company used $105.0 million of the net proceeds of the offering to
• $167.23 — ped Call Transactions will initially be $167.23 per share, and is subject to certain ad

Filing Documents

• d805953d8k.htm (8-K) — 40KB
• d805953dex41.htm (EX-4.1) — 629KB
• d805953dex101.htm (EX-10.1) — 268KB
• d805953dex991.htm (EX-99.1) — 9KB
• d805953dex992.htm (EX-99.2) — 13KB
• g805953g0531053824792.jpg (GRAPHIC) — 13KB
• g805953g0531053824924.jpg (GRAPHIC) — 14KB
• g805953g0531053825059.jpg (GRAPHIC) — 14KB
• g805953g0531053825195.jpg (GRAPHIC) — 14KB
• g805953g0531053825315.jpg (GRAPHIC) — 14KB
• g805953g0531053825436.jpg (GRAPHIC) — 16KB
• g805953g0531074725603.jpg (GRAPHIC) — 3KB
• g805953g0531082448562.jpg (GRAPHIC) — 6KB
• 0001193125-24-151726.txt ( ) — 1410KB
• mchp-20240528.xsd (EX-101.SCH) — 3KB
• mchp-20240528_lab.xml (EX-101.LAB) — 17KB
• mchp-20240528_pre.xml (EX-101.PRE) — 11KB
• d805953d8k_htm.xml (XML) — 3KB

Financial Statements and Exhibits

Financial Statements and Exhibits (d) Exhibits: Exhibit No. Exhibit Description 4.1 Indenture, dated as of May 31, 2024, by and between Microchip Technology Incorporated and Computershare Trust Company, National Association, as trustee. 4.2 Form of 0.75% Convertible Senior Notes due 2030 (included in Exhibit 4.1). 10.1 Form of Capped Call Transaction Confirmation. 99.1 Press release, dated May 28, 2024. 99.2 Press release, dated May 29, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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. Microchip Technology Incorporated Date: May 31, 2024 By: /s/ J. Eric Bjornholt J. Eric Bjornholt Senior Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)

View Full Filing

View this 8-K filing on SEC EDGAR