Analog Devices Announces Pricing of Public Offering of Senior Notes
September 08 2022 - 3:20PM
Business Wire
Analog Devices, Inc. (Nasdaq: ADI) (the “Company”) today
announced that it has priced an underwritten public offering (the
“offering”) of $300,000,000 aggregate principal amount of 4.250%
Senior Notes due October 1, 2032 (the “notes”). SMBC Nikko
Securities America, Inc. is acting as the book-running manager in
connection with the offering.
The notes were priced at 99.360% of their principal amount.
The offering is expected to close on or about September 15,
2022, subject to customary closing conditions.
The Company intends to use the net proceeds from the offering
for general corporate purposes, which may include capital
expenditures, repurchases of its common stock under the Company’s
stock repurchase program, repayment or refinancing of existing
indebtedness, dividend payments and acquisitions.
The notes are being offered pursuant to an effective
registration statement on Form S-3 that was previously filed with
the Securities and Exchange Commission. This press release does not
constitute an offer to sell or the solicitation of an offer to buy
any of the Company’s notes, nor shall there be any sale of the
notes in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of such jurisdiction. The offering will be made
only by means of a prospectus supplement and the accompanying base
prospectus.
Before you invest, you should read the prospectus supplement and
the accompanying base prospectus and other documents the Company
has filed with the SEC for more complete information about the
Company and this offering. Copies of the prospectus supplement
relating to this offering may be obtained by contacting: SMBC Nikko
Securities America, Inc., Attn: Debt Capital Markets, at 277 Park
Avenue, New York, New York 10172, telephone 1-888-868-6856
(toll-free) or email prospectus@smbcnikko-si.com. An electronic
copy of the prospectus supplement, together with the accompanying
base prospectus, is also available on the United States Securities
and Exchange Commission (SEC) website, www.sec.gov.
Forward-Looking Statements: This press release contains
“forward-looking statements” within the meaning of the federal
securities laws. Forward-looking statements address a variety of
subjects, including, for example, whether the offering will be
completed and the anticipated use of net proceeds from the
offering. Statements that are not historical facts, including
statements about the Company’s beliefs, plans and expectations, are
forward-looking statements. Such statements are based on the
Company’s current expectations and are subject to a number of
factors and uncertainties, which could cause actual results to
differ materially from those described in the forward-looking
statements. Forward-looking statements often contain words such as
“expect,” “anticipate,” “intend,” “plan,” “believe,” “will,”
“estimate,” “would,” “target” and similar expressions, as well as
variations or negatives of these words. The following important
factors and uncertainties, among others, could cause actual results
to differ materially from those described in these forward-looking
statements: the risks and uncertainties related to market
conditions and the risks and uncertainties described in a
registration statement on Form S-3 (File No. 333-259782) and a
related prospectus and prospectus supplement filed with the
Securities and Exchange Commission on September 8, 2022. For
additional information about other factors that could cause actual
results to differ materially from those described in the
forward-looking statements, please refer to the Company’s periodic
reports and other filings with the Securities and Exchange
Commission, including the risk factors contained in the Company’s
most recent Quarterly Reports on Form 10-Q and Annual Reports on
Form 10-K. Forward-looking statements represent management’s
current expectations and are inherently uncertain and are made only
as of the date hereof. Except as required by law, the Company does
not undertake or assume any obligation to update any
forward-looking statements, whether as a result of new information
or to reflect subsequent events or circumstances or otherwise.
About Analog Devices, Inc.
Analog Devices, Inc. (NASDAQ: ADI) operates at the center of the
modern digital economy, converting real-world phenomena into
actionable insight with its comprehensive suite of analog and mixed
signal, power management, radio frequency (RF), and digital and
sensor technologies. ADI serves 125,000 customers worldwide with
more than 75,000 products in the industrial, communications,
automotive, and consumer markets. ADI is headquartered in
Wilmington, MA.
(ADI-WEB)
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version on businesswire.com: https://www.businesswire.com/news/home/20220908006022/en/
Investor Contact: Mr. Michael Lucarelli Vice President of
Investor Relations and FP&A 781-461-3282
investor.relations@analog.com
Media Contact: Michael Schneider Chief Communications
Officer 973-868-1000 corpcomm@analog.com
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