Why Indie Semiconductor Stock Is Plummeting Today [Yahoo! Finance]
indie Semiconductor, Inc. - Class A (INDI)
Company Research
Source: Yahoo! Finance
ET. The sell-off came in reaction to the company's announcement after the market closed Monday that it plans to sell up to $175 million in convertible senior debt notes. The company will sell those debt notes in a private offering. In addition, management left the door open for an additional $26.25 million in debt-note sales. The notes are slated to mature on Dec. 15, 2029, although the company has laid out provisions that would allow for the notes to be redeemed for cash on or after Dec. 20, 2027. Are You Missing The Morning Scoop? Wake up with Breakfast news in your inbox every market day. Sign Up For Free » If Indie Semiconductor stock performs well over the next several years, it's reasonable to expect that holders of the convertible notes will redeem them for shares of new common stock. That would increase the chip company's shares outstanding, diluting the value of the shares held by current investors. Based on Indie's market cap of roughly $852 million, the creation of
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INDI
News
- indie Semiconductor Announces Pricing of Private OfferingBusiness Wire
- indie Semiconductor Announces Proposed Convertible Senior Notes OfferingBusiness Wire
- indie Announces Automotive System Basis Safety IC Solution With Leading European Tier 1, Independently Certified To The Highest Functional Safety RatingBusiness Wire
- indie Semiconductor Extends Automotive Photonics Leadership With Advanced Optical Component Integration CapabilitiesBusiness Wire
- indie Semiconductor, Inc. (NASDAQ: INDI) had its price target lowered by analysts at Roth Mkm from $7.00 to $5.00. They now have a "buy" rating on the stock.MarketBeat
INDI
Earnings
- 11/7/24 - Beat
INDI
Sec Filings
- 1/3/25 - Form SCHEDULE
- 12/26/24 - Form 4
- 12/23/24 - Form 144
- INDI's page on the SEC website