Silicon Labs to redeem 0.625% convertibles due 2025 on June 30

By Wendy Van Sickle

Columbus, Ohio, March 22 – Silicon Laboratories Inc. will redeem all of its outstanding 0.625% convertible senior notes due 2025 at par plus interest on June 30, according to an 8-K filing with the Securities and Exchange Commission.

Holders may redeem their convertibles into shares of the company’s common stock at a rate of 8.198 shares per $1,000 principal amount, which is equivalent to a conversion price of $121.98 per share. This conversion right will expire on June 16. Holders converting prior to the conversion deadline will also receive an additional 0.4101 shares per $1,000 principal amount as called for by the June 1, 2020 indenture.

The company plans to settle conversions in a combination of shares plus cash in lieu of any fractional shares.

Silicon Labs is an Austin, Tex.-based semiconductor company.

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