Skyworks Solutions said it has pushed back the expiration date for its exchange offers tied to Qorvo’s senior notes, giving holders until Sept. 11, 2026, at 5:00 p.m. New York time, from the prior deadline of Sept. 1.
The company is offering to exchange up to $850 million of new 4.375% senior notes due 2029 for Qorvo’s 4.375% senior notes due 2029, and up to $700 million of new 3.375% senior notes due 2031 for Qorvo’s 3.375% senior notes due 2031.
As of Sept. 1, holders had tendered $767.5 million of the 2029 notes, equal to 90.30% of the $850 million outstanding, and $653.0 million of the 2031 notes, equal to 93.29% of the $700 million outstanding.
That means $82.5 million of the 2029 issue remained untendered and $47.0 million of the 2031 issue remained untendered at the time of the announcement.
Skyworks said investors who already tendered do not need to take any further action, and their tenders remain in place. Holders who have not yet tendered, or who withdrew prior tenders, can still participate before the new deadline.
The settlement date is expected to come shortly after the expiration date and no earlier than the second business day after the mergers close. Skyworks said it is aiming to close the mergers within the calendar year and as early as within the fiscal year. Today the company's shares have moved 2.86% to a price of $69.34. Check out the company's full 8-K submission here.
