8-K - SMART Global Holdings, Inc. (0001616533) (Filer)

Wed, Aug 14, 8:18 PM (32 days ago)

Smart Global Holdings, Inc. reported on August 12, 2024, the issuance of an additional $25 million of 2.00% Convertible Senior Notes due 2030, following the initial offering that closed on August 6, 2024. The total net proceeds from this offering are expected to be approximately $193 million, which will be used primarily to repay existing term loan obligations and to cover costs associated with additional capped call transactions valued at about $2.04 million. These capped call transactions aim to mitigate potential dilution from the conversion of the notes, with an initial cap price set at approximately $37.70 per share. The company emphasizes that these transactions are part of a private offering and will not be publicly registered. The forward-looking statements in the report highlight potential risks and uncertainties affecting future outcomes. This development may impact the company's financial position and stock value, with the stock trading under the symbol SGH on the Nasdaq Global Select Market.