Inphi Corporation


Company Name:
Inphi Corporation 
Sector:
Semiconductors & Semiconductor Capital Equipment 
Transaction Type:
Convertible 
Ticker Symbol:
IPHI 
Deal Amount:
$287.5M
Transaction Date:
9/7/2016 
Transaction Summary:
Inphi Corporation issued $287.5 million principal amount of Convertible Senior Notes due 2021 in an upsized transaction to qualified institutional buyers pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”). Inphi will settle conversions of the notes by paying or delivering, as the case may be, cash, shares of its common stock, or a combination of cash and shares of its common stock, at its election. In addition, holders may require Inphi to repurchase their notes upon the occurrence of a fundamental change (as defined in the indenture governing the notes) at a purchase price equal to the principal amount thereof plus accrued and unpaid interest to, but excluding, the repurchase date. The underwriters fully exercised their option to purchase an additional $37.5 million in aggregate principal amount of notes to cover over-allotments. Needham & Company acted as a co-manager for this transaction. Inphi intends to use a portion of the net proceeds from the offering of the notes to pay the cost of certain capped call transactions. Inphi intends to use the remainder of the net proceeds from the offering of the notes for general corporate purposes, including financing potential acquisitions and other strategic transactions. 
Company Description:
Inphi Corporation (NYSE: IPHI) is a leader in high-speed data movement. We move big data - fast, throughout the globe, between data centers, and inside data centers. Inphi's expertise in signal integrity results in reliable data delivery, at high speeds, over a variety of distances. As data volumes ramp exponentially due to video streaming, social media, cloud-based services, and wireless infrastructure, the need for speed has never been greater. That's where we come in. Customers rely on Inphi's solutions to develop and build out the Service Provider and Cloud infrastructures, and data centers of tomorrow. 
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