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Stock impact report

MICROCHIP TECHNOLOGY INCORPORATED ANNOUNCES NOTE EXCHANGES

Microchip Technology Incorporated (MCHP) 
Last microchip technology incorporated earnings: 2/4 04:10 pm Check Earnings Report
US:NASDAQ Investor Relations: microchip.com/investors
Company Research Source: GlobeNewswire
CHANDLER, Arizona, March 21, 2020 (GLOBE NEWSWIRE) -- Microchip Technology Incorporated (NASDAQ:MCHP) (“Microchip”) announced today that on March 21, 2020, Microchip entered into separate privately-negotiated agreements with certain holders of Microchip’s outstanding 1.625% Convertible Senior Subordinated Notes due 2025 (the “Notes”) (the “Exchange Transactions”). Pursuant to the Exchange Transactions, Microchip has agreed to exchange $615.0 million in aggregate principal amount of the Notes and accrued and unpaid interest thereon for cash and shares of Microchip’s common stock, par value $0.001 per share (the “Common Stock”).  Upon the closing of the Exchange Transactions, Microchip estimates that it will pay an aggregate of approximately $615.0 million in cash plus accrued interest and issue approximately 3.1 million shares of Common Stock for the Notes.  The foregoing estimates are based on a price of $60.56 per share of Common Stock, which was the reference price used in the Ex Show less Read more
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