Semiconductor maker Diodes steadies after $325 mln convertible bond sale
BUZZ-Semiconductor maker Diodes steadies after $325 mln convertible bond sale ** Shares of semiconductor products maker Diodes DIOD.O trading fractionally higher before the bell on Fri after it secures capital raise
** Plano, Texas-based DIOD announces pricing private offering of $325 mln 0% convertible bonds due Aug 15, 2031
** Conversion price of $145.79 is 50% above stock's last close of $97.19
** DIOD's shares finished down ~9% on Thurs after co launched the offering for general purposes, including potential acquisitions
** Co expects to use $19 mln of proceeds to pay for capped call transactions and $35 mln to repurchase about 0.36 mln of its shares to mitigate potential dilution
** Last week, DIOD posted Q2 rev up 22% yr/yr to $445.5 mln and adj EPS of 70 cents compared to 32 cents profit a yr-ago, driven by expanding content in automotive, industrial and AI server-related applications
** At Thurs close, stock up 18% MTD and has nearly doubled in 2026
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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