07:49 AM EDT, 10/08/2025 (MT Newswires) -- Semtech ( SMTC ) said Wednesday that it has priced an offering of $350 million worth of 0% convertible senior notes due 2030 in a private placement.

The sale is expected to close on Friday.

The semiconductor components maker said it has also granted initial purchasers of the notes an option to purchase, for settlement by Oct. 15, up to $52.5 million in additional notes.

The initial conversion rate for the notes is 9.8964 shares per $1,000 principal, or $101.05 per share, a premium of around 42.50% over Semtech's ( SMTC ) last reported share price, the company said.

Semtech ( SMTC ) said it expects the offering to generate net proceeds of $340.2 million, which it plans to use to pay down and repurchase other debt.