ON SEMICONDUCTOR CORP - 8-K Filing
ON Semiconductor issued $1.5 billion in aggregate principal amount of 0% Convertible Senior Notes due 2031, including a $200 million over-allotment option exercised by initial purchasers. The company used approximately $331.9 million of the net proceeds to repurchase about 3.1 million shares of its common stock and plans to use remaining funds for general corporate purposes, including repayment of outstanding debt. (Items: 1.01 Entry into a Material Definitive Agreement, 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, 3.02 Unregistered Sales of Equity Securities, 8.01 Other Events)
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