indie Semiconductor, Inc. completed a private offering of $150 million aggregate principal amount of 4.00% Convertible Senior Notes due 2031 on March 6, 2026, with an option for initial purchasers to buy an additional $25 million. Net proceeds of approximately $145.1 million were used to repurchase $104 million principal of its 4.50% Convertible Senior Notes due 2027.
Key takeaways
$150,000,000 aggregate principal 4.00% Convertible Senior Notes due 2031 issued March 6, 2026
Initial purchasers option for additional $25,000,000 principal amount
Initial conversion rate 258.3312 shares per $1,000 principal ($3.87 conversion price)
Net proceeds $145.1 million after discounts and expenses
$107.8 million used to repurchase $104.0 million principal of 4.50% Notes due 2027
Notes mature March 15, 2031; interest payable semi-annually from September 15, 2026