SiTime Corporation Announces Pricing of Upsized Offering of $1.2 Billion of Convertible Senior Notes
SiTime Corporation (“SiTime”) (NASDAQ: SITM), the Precision Timing company, today announced the pricing of its underwritten offering (the “Offering”) of $1.2 billion aggregate principal amount of 0% Convertible Senior Notes due 2031 (the “Notes”). The aggregate principal amount of the Offering was increased from the previously announced offering size of $1.1 billion. The sale of the Notes to the underwriters is expected to close on May 22, 2026, subject to customary closing conditions. SiTime also granted the underwriters of the Notes a right to purchase, within a 13-day period beginning on, and including, the date on which the Notes are first issued, up to an additional $150 million aggregate principal amount of Notes, solely to cover over-allotments, if any.
The Notes will be general unsecured obligations of SiTime and will not bear regular interest and the principal amount of the Notes will not accrete. The Notes will mature on June 15, 2031, unless earlier converted, redeemed or repurchased.
SiTime estimates that the net proceeds from the Offering will be approximately $1.17 billion (or approximately $1.32 billion if the underwriters exercise their over-allotment option in full), after deducting the underwriters’ discounts and commissions and estimated Offering expenses payable by SiTime.
