09:54 AM EDT, 10/13/2025 (MT Newswires) -- Semtech ( SMTC ) said Monday it has closed a private offering of $350 million of 0% convertible senior notes due 2030 with the full exercise of the option given to initial purchasers to buy an additional $52.5 million for total net proceeds of about $391.2 million.

Semtech ( SMTC ) said it will use about $220.6 million of the net proceeds, together with the issuance of roughly 3 million shares, for the exchange of about $219 million of its 1.625% convertible senior notes due 2027.

The company said it will also use $63.1 million of the net proceeds, together with the issuance of roughly 2.2 million shares, for the exchange of $61.95 million of 4% convertible senior notes due 2028, and about $107.6 million and $3.5 million of cash on hand to repay in full a term loan.

Semtech ( SMTC ) shares were more than 4% higher in recent trading.

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