ON Semiconductor launches $1.3B convertible notes offering to fund stock buyback and debt repayment

Filed May 6, 2026 · Period ending May 6, 2026 · ~1 min read

Key Changes

• high

  onsemi is offering $1.3 billion of convertible senior notes due 2031 in a private placement to qualified institutional buyers, with initial purchasers holding a 13-day option for an additional $200 million.

  Item 8.01 — Other Events verify on EDGAR →
• high

  Proceeds will fund convertible note hedge transactions, repurchase up to $400 million of common stock concurrently with pricing, and repay outstanding debt. The concurrent buyback could increase the effective conversion price.

  Exhibit 99.1 verify on EDGAR →
• medium

  Upon conversion, onsemi will pay cash up to principal amount and can elect cash, shares, or a combination for any excess conversion value, giving the company flexibility in managing dilution.

  Exhibit 99.1 verify on EDGAR →