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Buy (3.32 out of 4)
57th percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Sunday, November 16, 6:32 AM
Slide #21. Microchip Technology Incorporated — Preferred Stock Offering
| Company: |
Microchip Technology Incorporated (NASDAQ:MCHP) |
| Date announced: |
3/21/2025 |
| Shares Offered: |
27,000,000 |
| Date of Pricing: |
3/21/2025 |
| Price Per Share: |
$50.00 |
| Preferred Stock Offering Details: |
Microchip Technology Incorporated ("Microchip" or the "Company"), a leading provider of smart, connected, and secure embedded control solutions, today announced the pricing of its previously announced underwritten public offering of $1.35 billion of depositary shares ("depositary shares"), each representing a 1/20th interest in a share of newly issued 7.50% Series A Mandatory Convertible Preferred Stock, par value $0.001 per share ("preferred stock") at a public offering price of $50.00 per depositary share (the "offering"). Microchip granted the underwriters in the offering a 13-day option to purchase up to an additional $135 million of depositary shares, solely to cover over-allotments, if any, at the public offering price less the underwriting discount. The offering is expected to close on March 25, 2025, subject to customary closing conditions. |
Microchip Technology Incorporated develops, manufactures and sells smart, connected and secure embedded control solutions used by its customers for a variety of applications. Co.'s solutions serve approximately 123,000 customers across the industrial, automotive, consumer, aerospace and defense, communications and computing markets. Co.'s semiconductor products segment designs, develops, manufactures and markets mixed-signal microcontrollers, development tools and analog, interface, mixed-signal, timing, wired and wireless connectivity devices, and memory products. Co. also offers a comprehensive set of low-cost and easy-to-learn application development tools.
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