ON Semiconductor Completes $1.5 Billion Convertible Senior Notes Offering

Details

The Company received net proceeds of approximately $1.4729 billion after deducting initial purchasers' discounts and offering expenses. The net proceeds will be used to pay the cost of Convertible Note Hedges, repurchase shares of the Company's common stock, and for general corporate purposes including the repayment of outstanding indebtedness. The offering also involved convertible note hedge transactions and warrant transactions with certain initial purchasers and other financial institutions.

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About On Semiconductor Corporation

On Semiconductor Corporation, commonly known as onsemi, is a leading semiconductor supplier focused on complete intelligent sensing and energy-efficient solutions. The company provides innovative and reliable products that improve energy efficiency and enable the latest green technologies. onsemi's portfolio includes power management, analog, sensors, connectivity, custom, and system-on-chip (SoC) solutions. It serves a variety of markets, such as automotive, industrial, communications, and consumer electronics. The primary function of onsemi is to enhance the performance and efficiency of electronic products used in everyday life and in critical applications ranging from smart grids to advanced driver-assistance systems (ADAS). With a strong emphasis on research and development, onsemi is dedicated to driving advancements in technology that facilitate cleaner energy consumption and smarter electronic systems. Within the financial markets, onsemi plays a significant role given its strategic position in key growth sectors like electric vehicles and smart infrastructure. By leveraging cutting-edge technologies, the corporation continually contributes to the advancement of semiconductor technologies, reinforcing its relevance as a pivotal entity in the evolving landscape of global electronics and electrification initiatives.