SiTime raises $1.35B in convertible notes to fund Renesas timing business acquisition

Filed May 22, 2026 · Period ending May 19, 2026 · ~1 min read

Key Changes

• high

  SiTime completed $1.35 billion offering of 0% convertible senior notes due 2031, netting $1.32 billion after fees. Notes convert at $1,040.47/share (50% premium to market), potentially diluting shareholders if converted.

  Item 1.01, 8.01 verify on EDGAR →
• high

  Proceeds will primarily fund acquisition of Renesas timing business assets announced February 2026, with remainder for general corporate purposes including working capital and operations.

  Item 1.01 verify on EDGAR →
• medium

  Company spent $121.5M on capped call transactions to reduce dilution from conversions, with protection capped at $1,734.15/share (150% premium). Above this price, dilution protection diminishes.

  Item 1.01 verify on EDGAR →