Indie offers 4% coupon on $150M conv snr notes due 2031

Indie offers 4% coupon on $150M conv snr notes due 2031

Indie Semiconductor Announces Convertible Senior Notes Offering
March 4, 2026

Indie Semiconductor, Inc. (NASDAQ: INDI) has announced plans to offer $175 million aggregate principal amount of Convertible Senior Notes due 2029 through a private placement, subject to market conditions and regulatory approvals. The notes will be senior unsecured obligations of the company and may be converted into cash, shares of Indie's Class A common stock, or a combination of both, depending on Indie's election. Key terms, including the interest rate and conversion rate, will be finalized at the time of pricing.

The offering includes an option for initial purchasers to buy an additional $26.25 million in notes within a 13-day period following issuance. Proceeds will partially fund privately negotiated capped call transactions designed to mitigate potential dilution from conversions. The remaining funds will support working capital, general corporate purposes, and potential acquisitions, though no specific deals are currently under agreement.

Indie expects the initial purchasers and their affiliates to hedge the capped call transactions by purchasing shares or entering derivatives shortly after pricing. These activities could temporarily impact the stock price or note valuation. However, the company emphasized that the notes and underlying shares will not be registered under the Securities Act and will be sold under exemptions from registration requirements.

The offering underscores Indie's strategy to strengthen its financial flexibility amid growth in automotive semiconductor demand. As a global supplier of mixed-signal SoCs for ADAS, electrification, and in-cabin systems, Indie aims to leverage the proceeds to advance its market position.

This press release includes forward-looking statements subject to risks, including market conditions, interest rates, and integration challenges from potential acquisitions. Investors are advised to review Indie's SEC filings for further details.

(https://investors.indie.inc/news/news-details/2024/indie-Semiconductor-Announces-Proposed-Convertible-Senior-Notes-Offering/default.aspx): Indie Semiconductor Announces Proposed Convertible Senior Notes Offering, Business Wire, November 26, 2025.