High tender rates (89-93%) signal strong bondholder support for the merger, removing a key financing condition. Monitor for regulatory approvals and any extension of the September 1 expiration date. The merger closing remains the critical catalyst — this filing is procedural but confirms deal financing is on track.
Price Chart
Executive Summary
Skyworks announced strong early participation in its exchange offers for Qorvo's senior notes, with 89.42% of the 2029 notes ($760M of $850M outstanding) and 93.05% of the 2031 notes ($651M of $700M outstanding) tendered by the early deadline. The requisite consents to eliminate restrictive covenants on both series of Qorvo notes have been received and supplemental indentures executed, clearing a key procedural path toward closing the Skyworks-Qorvo merger. The exchange offers remain conditioned on merger close, which is not conditioned on the exchange results.
Key Facts
- 89.42% of Qorvo's 4.375% Senior Notes due 2029 ($760,095,000 of $850,000,000 outstanding) validly tendered
- 93.05% of Qorvo's 3.375% Senior Notes due 2031 ($651,334,000 of $700,000,000 outstanding) validly tendered
- Requisite consents received to adopt proposed amendments eliminating substantially all restrictive covenants and certain events of default on both series of Qorvo notes
- Two supplemental indentures executed on June 11, 2026, effective but operative only upon merger close or exchange settlement
- Consent payment: ~$2.80 per $1,000 for 2029 notes and ~$2.69 per $1,000 for 2031 notes
- Exchange offers expire September 1, 2026; settlement expected no earlier than second business day after merger close
- Exchange offers and consent solicitations are conditioned on closing of the Skyworks-Qorvo merger
Financial Impact
Up to $1.55B in Qorvo notes being exchanged for new Skyworks notes (up to $850M new 4.375% 2029 notes and up to $700M new 3.375% 2031 notes). Early participation premium of $50 per $1,000 principal in additional new notes. Consent payments total approximately $2.13M on 2029 notes and $1.75M on 2031 notes.
Risk Factors
- Exchange offers and merger remain subject to regulatory approvals and other closing conditions
- If merger fails to close, supplemental indentures cease to be operative and Qorvo notes revert to original terms
- Skyworks expects to incur substantial additional indebtedness in connection with the Qorvo transactions
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-073096 |
| Document: tm2613769d1_8k.htm | 0001104659-26-073096 |
| Document: 0001104659-26-073096-index-headers.html | 0001104659-26-073096 |
| Document: 0001104659-26-073096-index.html | 0001104659-26-073096 |
| Document: 0001104659-26-073096.txt | 0001104659-26-073096 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 2, 2026 4w ago | 8-K | $71.68 $85.48 | ▲ +19.26% | ▲ +19.59% | $85.03 (+18.63%) |
Sep 2, 2026 4w ago | Press Release | $71.68 $85.48 | ▲ +19.26% | ▲ +19.59% | $85.03 (+18.63%) |
Aug 10, 2026 7w ago | 8-K | $68.33 $76.54 | ▼ −12.02% | ▼ −13.07% | $85.03 (−24.44%) |
Aug 6, 2026 8w ago | 424B5 | $70.62 $74.02 | ▼ −4.81% | ▼ −5.21% | $85.03 (−20.40%) |
Aug 3, 2026 8w ago | S-3ASR | $61.29 $67.01 | ▲ +9.33% | ▲ +8.09% | $85.03 (+38.73%) |
Aug 3, 2026 8w ago | 8-K | $61.29 $67.01 | ▲ +9.33% | ▲ +8.09% | $85.03 (+38.73%) |
Jun 12, 2026 16w ago | 8-K | $73.97 $60.38 | ▼ −18.37% | ▼ −20.15% | $85.03 (+14.95%) |
Jun 12, 2026 16w ago | Press Release | $73.97 $60.38 | ▼ −18.37% | ▼ −20.15% | $85.03 (+14.95%) |
Jun 1, 2026 17w ago | EFFECT | $74.98 $67.71 | ▼ −9.69% | ▼ −7.38% | $85.03 (+13.41%) |
May 20, 2026 19w ago | Press Release | $73.45 $72.45 | ▼ −1.35% | ▼ −1.90% | $85.03 (+15.77%) |
US Market Status
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