SolarEdge Technologies has successfully issued $300 million of 2.250% Convertible Senior Notes due 2029 through a private placement to qualified institutional buyers. The notes will bear semiannual interest payments starting January 1, 2025, with an initial conversion price of $34.32 per share. The net proceeds amounted to approximately $293.2 million after deducting fees and expenses.The company allocated $25.2 million to enter into capped call transactions with multiple financial institutions to reduce potential dilution, with a cap price set at $48.84. Additionally, approximately $267.9 million of the proceeds will be used to repurchase $285.0 million of its outstanding 0.000% Convertible Notes due 2025.The notes are convertible under specific conditions before April 1, 2029, and freely convertible thereafter. The company may redeem the notes on or after July 6, 2027, if the stock price reaches 130% of the conversion price for a specified period. The notes represent senior unsecured obligations of SolarEdge, ranking equally with other unsecured liabilities.

SolarEdge Technologies has successfully issued $300 million of 2.250% Convertible Senior Notes due 2029 through a private placement to qualified institutional buyers. The notes will bear semiannual interest payments starting January 1, 2025, with an initial conversion price of $34.32 per share. The net proceeds amounted to approximately $293.2 million after deducting fees and expenses.The company allocated $25.2 million to enter into capped call transactions with multiple financial institutions to reduce potential dilution, with a cap price set at $48.84. Additionally, approximately $267.9 million of the proceeds will be used to repurchase $285.0 million of its outstanding 0.000% Convertible Notes due 2025.The notes are convertible under specific conditions before April 1, 2029, and freely convertible thereafter. The company may redeem the notes on or after July 6, 2027, if the stock price reaches 130% of the conversion price for a specified period. The notes represent senior unsecured obligations of SolarEdge, ranking equally with other unsecured liabilities.