Cree Announces Offering of $500 Million of Convertible Senior Notes
Cree, Inc. (CREE)
Last cree, inc. earnings: 4/29 04:01 pm
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US:NASDAQ Investor Relations:
investor.cree.com/investor-relations
Company Research
Source: Business Wire
DURHAM, N.C.--(BUSINESS WIRE)--Cree, Inc. (NASDAQ: CREE) (“Cree”) today announced that it intends to offer, subject to market conditions and other factors, $500 million aggregate principal amount of its Convertible Senior Notes due 2026 (the “Notes”) in a private offering (the “Offering”) to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). In addition, Cree expects to grant the initial purchasers of the Notes an option to purchase, for settlement within a 13-day period from, and including, the date on which the Notes are first issued, up to an additional $75 million aggregate principal amount of the Notes.The Notes will be unsecured, senior obligations of Cree, and interest will be payable semi-annually in arrears. The Notes will be convertible into cash, shares of Cree’s common stock, or a combination thereof, at Cree’s election. The interest rate, initial conversion rate, repurchase or redemption rights and
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