10:25 AM EST, 12/13/2024 (MT Newswires) -- MACOM Technology Solutions ( MTSI ) said Friday it is refinancing about 65% of its convertible notes after striking deals to exchange about $288.8 million of 0.25% convertible senior notes due 2026 for around $257.7 million of new 0% convertible senior notes due 2029 and some 1.6 million shares.

MACOM also said it will issue $86.6 million of new convertible notes to some investors via a private placement.

The transactions, expected to close Dec. 19, are projected to boost its cash balance by $61.7 million, and increase its debt balance by $55.5 million, with neutral effect on pro forma net leverage, the company said.

Shares of the company were up more than 3% in recent trading.

Price: 140.86, Change: +4.37, Percent Change: +3.20