MACOM Refinances Convertible Notes with New Zero-Coupon Notes

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announced the exchange and subscription of its existing 0.25% convertible senior notes due 2026 for new 0% convertible senior notes due 2029. The exchange involves swapping approximately $288.8 million in existing notes for $257.7 million in new notes and issuing approximately $86.6 million in new notes in a private placement. The transactions, expected to close on or about December 19, 2024, aim to restructure the company's debt, offering a conversion premium of 27.5%. The new notes are senior unsecured obligations with specific conversion, redemption, and repurchase provisions. The company expects a neutral impact on its pro forma net leverage, with an increase in cash balance by $61.7 million and debt by $55.5 million after fees and expenses.

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About Macom Technology Solutions Holdings, Inc.

Macom Technology Solutions Holdings, Inc. is a prominent player in the semiconductor industry, specializing in the design and manufacture of a comprehensive array of analog and mixed-signal products. These products are crucial components in various high-demand sectors such as telecommunications, defense, automotive, and industrial markets. Macom’s technology solutions are central to systems requiring power optimization and enable critical functions within wireless and wireline infrastructure. The company's offerings include RF power products, diodes, amplifiers, and various networks solutions that cater to both commercial and military applications. Macom's contributions are vital in supporting infrastructure expansions and technological advancements, particularly in areas like 5G networks, satellite communications, and radar systems. With its strategic focus on innovation and performance, Macom Technology Solutions Holdings, Inc. plays a significant role in powering the complex communications frameworks of today and the future.