07:46 AM EDT, 07/12/2024 (MT Newswires) -- Semtech ( SMTC ) said Friday it will repurchase $183 million of the outstanding amount of the 4.00% convertible senior notes due 2028 from existing bondholders.

The company will fund the repurchase by issuing its common stock to the convertible senior notes holders. The number of shares issued would be determined over an averaging period commencing on July 12.

The transactions are expected to close around July 24, 2024, pending customary closing conditions.

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