Diodes to Launch $325 Million Private Offering of Convertible Senior Notes Due 2031
Diodes (DIOD) said Thursday that it intends to launch a $325 million private placement of convertible senior notes due 2031.Diodes intends to grant the initial purchasers an option to buy an additional $50 million aggregate principal amount of the notes during a 13-day period beginning on, and including, the date the notes are first issued, according to the company.Diodes said it expects to use a portion of the net proceeds to pay the cost of the capped call transactions, to repurchase up to $35 million of shares of its common stock, and for general corporate purposes, including potential future acquisitions.Shares of the company were down 4.7% in Thursday premarket trading.