Microchip Technology Announces Pricing of Offering of Depositary Shares Representing Interests in Series A Mandatory Convertible Preferred Stock
Microchip Technology Incorporated (MCHP)
Last microchip technology incorporated earnings: 2/4 04:10 pm
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Source: GlobeNewswire
CHANDLER, Ariz., March 21, 2025 (GLOBE NEWSWIRE) -- (NASDAQ: MCHP) 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. The net proceeds from the offering will be approximately $1.32 bil
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- Microchip Technology Incorporated (NASDAQ: MCHP) had its price target lowered by analysts at Truist Financial Co. from $56.00 to $43.00. They now have a "hold" rating on the stock.MarketBeat
MCHP
Earnings
- 2/6/25 - Miss
MCHP
Sec Filings
- 4/24/25 - Form SCHEDULE
- 4/3/25 - Form 4
- 4/3/25 - Form 4
- MCHP's page on the SEC website