onsemi Prices $1.3 Billion Convertible Senior Notes Due 2029

**FOR IMMEDIATE RELEASE**

onsemi has announced the pricing of its private offering of $1.3 billion in convertible senior notes due 2029. The notes will not bear interest and were offered only to qualified institutional buyers.

The company priced the offering on May 6, 2024. The initial conversion rate is 8.2059 shares of onsemi’s common stock per $1,000 principal amount of notes, representing an initial conversion price of approximately $121.86 per share. This conversion price reflects a premium of about 32.5% over the stock’s closing price on May 6, 2024. Noteholders can convert their notes under certain circumstances. onsemi also granted the initial purchasers an option to purchase up to an additional $200 million principal amount of notes. The sale of the notes is expected to close on May 9, 2024, subject to customary closing conditions.

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Date: May 7, 2026

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