SMART Global Holdings Announces Exercise of Option to Issue Additional Convertible Senior Notes

Details

was notified by the initial purchasers of the exercise of their option to purchase an additional $25.0 million in aggregate principal amount of 2.00% Convertible Senior Notes due 2030 (the 'Option Notes'). The Company closed on the issuance of the Option Notes on August 14, 2024, with net proceeds expected to be approximately $193.0 million after deducting discounts, commissions, and offering expenses. The Option Notes were issued under the same Indenture as the previously issued 2.00% Convertible Senior Notes due 2030. Additionally, the Company entered into privately negotiated capped call transactions in connection with the sale of the Option Notes to mitigate potential dilution to existing Ordinary Share holders.

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