SiTime prices upsized $1.2B convertible senior notes

* SiTime (SITM [https://seekingalpha.com/symbol/SITM]) priced [https://seekingalpha.com/pr/20521858-sitime-corporation-announces-pricing-of-upsized-offering-of-1_2-billion-of-convertible-senior] an upsized $1.2B convertible senior notes offering due 2031, increasing the deal size from the initially announced $1.1B.
* The sale of the notes to the underwriters is expected to close on May 22, 2026.
* The company also granted the underwriters a right to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $150M aggregate principal amount of notes.
* SiTime (SITM [https://seekingalpha.com/symbol/SITM]) estimates that the net proceeds will be ~$1.17B (or ~$1.32B if the underwriters exercise their over-allotment option in full).
* The notes will be general unsecured obligations of SiTime (SITM [https://seekingalpha.com/symbol/SITM]) and will not bear regular interest, while the principal amount will not accrete.
* The notes are set to mature on June 15, 2031, unless earlier converted, redeemed, or repurchased.
* The company plans to use proceeds primarily to fund part of its acquisition of timing-business assets from Renesas Electronics, as well as for capped call transactions and general corporate purposes.

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