Morningstar

SiTime Shares Fall on $1.1 Billion Senior Note Offering

Provided by Dow Jones May 19, 2026, 4:11:00 PM

By Elias Schisgall

Shares of SiTime fell after the company said it plans to sell $1.1 billion in senior notes.

Shares were down 4.8% to $690.63 in Tuesday morning trading. The stock has nearly doubled in value this year.

The precision timing technology company said it would use a portion of the proceeds to finance its acquisition of Renesas Electronics' timing business, which was announced in February.

Another portion will be used to pay for expected capped call transactions to limit share dilution associated with the note sale, the company said, with the rest going toward general corporate purposes.

The notes are unsecured convertible senior notes due 2031. The company said it plans to give the underwriters a 13-day option to purchase up to an additional $150 million to cover any over-allotments.

Write to Elias Schisgall at elias.schisgall@wsj.com

(END) Dow Jones Newswires

May 19, 2026 12:11 ET (16:11 GMT)

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