Lattice Semiconductor Secures $1.15B Credit Facility to Fund AMI Acquisition
LSCC has more than doubled off its 52-week low of $46.43.
Summary
Lattice Semiconductor has secured $1.15 billion in new credit facilities, including a $200 million revolving facility and a $950 million delayed draw term loan. This financing is a critical step to fund a significant portion of the cash consideration for the previously announced $1.65 billion acquisition of AMI. The credit agreement, led by Wells Fargo, de-risks the funding aspect of the major acquisition. This news follows an 8-K filed minutes earlier detailing the same credit agreement.
At the time of this announcement, LSCC was trading at $152.96 on NASDAQ in the Technology sector, with a market capitalization of approximately $21B. The 52-week trading range was $46.43 to $157.01. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.