The high tender rates (91.68% and 93.33%) signal strong bondholder support for the exchange, reducing a key closing condition risk for the Skyworks-Qorvo merger. Watch for the October 2 expiration and subsequent settlement; any further extensions or a merger closing announcement will be the next catalysts.
Price Chart
Executive Summary
Skyworks Solutions extended the expiration date of its exchange offers for Qorvo's senior notes due 2029 and 2031 to October 2, 2026, marking the second extension in this process. As of September 25, 2026, 91.68% of the 2029 notes ($779.25M of $850M outstanding) and 93.33% of the 2031 notes ($653.33M of $700M outstanding) had been validly tendered, indicating strong bondholder participation. The extension is a procedural step in the pending Skyworks-Qorvo merger, with Skyworks expressing hope to close within the calendar year.
Key Facts
- Exchange offer expiration extended to October 2, 2026 (from September 25, 2026).
- 91.68% of 2029 Qorvo notes ($779.25M of $850M) tendered as of September 25.
- 93.33% of 2031 Qorvo notes ($653.33M of $700M) tendered as of September 25.
- Settlement expected no earlier than the second business day after merger closing.
- Exchange offers are conditioned on merger closing; merger closing is not conditioned on exchange results.
- Skyworks hopes to close merger within calendar year 2026, preparing to close as early as within fiscal year.
Financial Impact
Exchange offers cover up to $1.55B in aggregate principal of Qorvo senior notes; $1.4326B (92.4%) already tendered.
Risk Factors
- Further extensions could signal delays in merger closing.
- Merger closing remains subject to satisfaction or waiver of all closing conditions.
- Forward-looking statements caution that no assurances can be given on the closing timeline.
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0001104659-26-111071 |
| Document: 0001104659-26-111071-index-headers.html | 0001104659-26-111071 |
| Document: 0001104659-26-111071-index.html | 0001104659-26-111071 |
| Document: 0001104659-26-111071.txt | 0001104659-26-111071 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 15, 2026 12d ago | 15-12G | No price | awaiting T+60 | awaiting T+60 | No price |
Oct 6, 2026 21d ago | SC 13D/A | $115.00 | awaiting T+60 | awaiting T+60 | No price |
Oct 5, 2026 23d ago | 25-NSE | $115.00 | awaiting T+60 | awaiting T+60 | No price |
Oct 5, 2026 23d ago | 8-K | $115.00 | awaiting T+60 | awaiting T+60 | No price |
Sep 30, 2026 28d ago | 425 | $114.48 | awaiting T+60 | awaiting T+60 | No price |
Sep 25, 2026 4w ago | 425 | $116.30 | awaiting T+60 | awaiting T+60 | No price |
Sep 16, 2026 6w ago | Insider Cluster | $119.51 | awaiting T+60 | awaiting T+60 | No price |
Sep 14, 2026 6w ago | 144 | $107.98 | awaiting T+60 | awaiting T+60 | No price |
Sep 11, 2026 6w ago | 425 | $116.65 | awaiting T+60 | awaiting T+60 | No price |
Sep 3, 2026 7w ago | Insider Cluster | $102.84 | awaiting T+60 | awaiting T+60 | No price |
US Market Status
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