- indie Semiconductor ( NASDAQ: INDI ) on Wednesday proposed to offer $125M convertible senior notes due 2027.
- Initial purchasers are granted an option to buy up to an additional $18.75M of notes within 1-month.
- The company told interest on notes will be payable semi-annually; however, price, interest rate, and other terms not yet disclosed.
- Board also has approved a buyback plan to repurchase up to $50M worth of Class A shares and/or warrants.
- The automotive semiconductor company said it intends to use the net proceeds partially for the concurrent buyback of up to $25M and remaining portion for general corporate purposes.
- INDI shares are down 2.5% in pre-market on Wednesday.
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indie Semiconductor proposes convertible notes offering, $50M buyback plan