Semtech announces $400M common stock offering

Semtech (SMTC) Corporation announced a proposed underwritten public offering, subject to market conditions, to sell $400M of shares of its common stock. The company intends to use the net proceeds from the proposed offering for the repayment of certain indebtedness under the company’s Third Amended and Restated Credit Agreement, dated September 26, 2022, with the lenders party thereto and JPMorgan Chase Bank, N.A., as administrative agent. Morgan Stanley and UBS Investment Bank are acting as joint book-running managers for the offering.