Synaptics Inc. Reports Material Definitive Agreement

TL;DR

Synaptics signed a big financial deal on Nov 19th. Details in the 8-K.

AI Summary

On November 19, 2024, Synaptics Incorporated entered into a Material Definitive Agreement related to a financial obligation. The filing also includes information on the creation of a direct financial obligation or an off-balance sheet arrangement of the registrant, along with financial statements and exhibits.

Why It Matters

This filing indicates Synaptics has entered into a significant financial agreement, which could impact its financial obligations and future operations.

Risk Assessment

Risk Level: medium — Entering into material definitive agreements and financial obligations can introduce financial risks and operational changes that warrant careful consideration.

Key Players & Entities

• SYNAPTICS Inc (company) — Registrant
• November 19, 2024 (date) — Date of earliest event reported
• 0000817720 (company) — Central Index Key
• Delaware (jurisdiction) — State of Incorporation
• 1109 McKay Drive San Jose, California 95131 (address) — Business Address

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share SYNA NASDAQ Global Select Ma
• $100,000,000 — rth Amendment) in an amount of at least $100,000,000 in excess of the amount that would be r
• $250.0 million — ncreases the revolving commitments from $250.0 million to $350.0 million. On November 19, 20
• $350.0 million — ving commitments from $250.0 million to $350.0 million. On November 19, 2024, the Company is
• $400,000,000 — n November 19, 2024, the Company issued $400,000,000 aggregate principal amount of its 0.75%

Filing Documents

• syna-20241119.htm (8-K) — 30KB
• fullextoformforfourthamend.htm (EX-10.1) — 1688KB
• 0001628280-24-048834.txt ( ) — 2091KB
• syna-20241119.xsd (EX-101.SCH) — 2KB
• syna-20241119_lab.xml (EX-101.LAB) — 21KB
• syna-20241119_pre.xml (EX-101.PRE) — 12KB
• syna-20241119_htm.xml (XML) — 3KB

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On November 21, 2024, Synaptics Incorporated (the "Company") and Wells Fargo Bank, National Association, as the administrative agent (the "Administrative Agent"), and the revolving credit lenders party thereto entered into a Fourth Amendment and Lender Joinder Agreement (the "Fourth Amendment") to the Company's existing Second Amended and Restated Credit Agreement (the "Credit Agreement"), dated as of March 11, 2021, among the Company, as borrower, the lenders party thereto, and the Administrative Agent. The Fourth Amendment extends the maturity date to be the earlier of (i) the fifth anniversary of the closing of the Fourth Amendment and (ii) ninety one (91) days prior to any maturity of the Company's 4.000% senior notes due 2029. Clause (ii) will not apply if the Company has Liquidity (as defined in the Fourth Amendment) in an amount of at least $100,000,000 in excess of the amount that would be required to be paid on such date. The Fourth Amendment is arranged by a syndicate of financial institutions and, among other things, increases the revolving commitments from $250.0 million to $350.0 million. On November 19, 2024, the Company issued $400,000,000 aggregate principal amount of its 0.75% Convertible Senior Notes due 2031 (the "Notes") and used a portion of the net proceeds of the Notes to repay the outstanding balance under the Company's term loans. Proceeds from the Fourth Amendment will be used by the Company for general corporate purposes, including to fund working capital. The Fourth Amendment is substantially similar to the Credit Agreement and contains customary covenants and conditions that may, among other things, limit the Company's ability to incur additional indebtedness, incur liens on assets, make investments, dispose of assets, enter into certain transactions with affiliates, designate restricted subsidiaries as unrestricted subsidiaries or pay dividends and make distributions. The Fo

03. Creation of a Direct Financial Obligation under an Off-Balance Sheet Arrangement of a Registrant

Item 2.03. Creation of a Direct Financial Obligation under an Off-Balance Sheet Arrangement of a Registrant. The disclosure set forth under Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. Exhibits Exhibit Number Description 10.1 Fourth Amendment and Lender Joinder Agreement, dated as of November 21 , 2024, by and among Synaptics Incorporated, Wells Fargo Bank, National Association, as Administrative Agent, and the revolving credit lenders party thereto. 104 Cover page interactive data file (embedded within the inline XBRL document).

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 thereunto duly authorized. SYNAPTICS INCORPORATED Date: November 21, 2024 By: /s/ Lisa Bodensteiner Lisa Bodensteiner Senior Vice President, Chief Legal Officer and Secretary

View Full Filing

View this 8-K filing on SEC EDGAR