IPO - MICROCHIP TECHNOLOGY INC

Form Type: 424B5

Filing Date: 2025-03-21

Corporate Action: Ipo

Type: New

Accession Number: 000119312525060309

Filing Summary: Microchip Technology Incorporated is offering 27,000,000 depositary shares, each representing a 1/20th interest in a share of its 7.50% Series A Mandatory Convertible Preferred Stock with a par value of $0.001 per share. The shares will be deposited with Equiniti Trust Company, LLC, and holders will receive a proportional interest in related rights. Dividends, payable quarterly, are expected to be 7.50% based on a $1,000 liquidation preference per share. The shares have a conversion feature, whereby they will convert into between 16.0060 and 19.6080 shares of common stock based on the average VWAP over a defined period. The offering is expected to generate approximately $1.319 billion in proceeds before expenses. The company has applied for the Depositary Shares to be listed on The Nasdaq Global Select Market under the symbol 'MCHPP'. The expected delivery of shares is on March 25, 2025, which follows a T+2 settlement cycle. Potential risks related to investment in these securities are detailed in the document.

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Form Type: 424B5

Filing Date: 2025-03-19

Corporate Action: Ipo

Type: New

Accession Number: 000119312525057892

Filing Summary: Microchip Technology Incorporated is conducting an initial public offering (IPO) of 27,000,000 depositary shares, each representing a 1/20th interest in its Series A Mandatory Convertible Preferred Stock. The offering aims to raise capital by selling these securities with a cumulative dividend attached to the preferred shares. The shares will be listed on The Nasdaq Global Select Market under the symbol 'MCHPP', while the company's common stock is listed under 'MCHP'. The offering's details will evolve, and the underwriters have a 13-day option to buy an additional 2,700,000 depositary shares. This IPO is a significant step for the company, which provides embedded control solutions, indicating strong market confidence and potential for investor interest due to the company's established track record and diverse technology leadership across key markets.

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