Press release
Marvell Announces Bond Exchange
SANTA CLARA, Calif., Nov. 16, 2021 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in infrastructure semiconductor solutions, announced that
About this update from Marvell Technology, Inc.
[{"type":"text","content":"SANTA CLARA, Calif., Nov. 16, 2021 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in infrastructure semiconductor solutions, announced that on November 16, 2021 it commenced an offer to exchange (the \"Exchange Offer\") certain of the Company's outstanding unregistered notes for new registered notes. \nUnder the Exchange Offer, the Company is offering to exchange up to (i) $433,817,000 aggregate principal amount of new 4.200% Senior Notes due 2023 and (ii) $479,394,000 aggregate principal amount of new 4.875% Senior Notes due 2028 (together, the \"Exchange Notes\"), the issuance of which has been registered under the Securities Act of 1933, as amended (the \"Securities Act\"), for a like principal amount of its unregistered (i) $433,817,000 aggregate principal amount of its outstanding 4.200% Senior Notes due 2023 and (ii) $479,394,000 aggregate principal amount of its outstanding 4.875% Senior Notes due 2028 (together, the \"Outstanding Notes\"). The terms of the Exchange Notes offered in the Exchange Offer are substantially identical to the terms of the respective series of the Outstanding Notes, except that the Exchange Notes will be registered under the Securities Act, and certain transfer restrictions, registration rights, and additional interest provisions relating to the Outstanding Notes will not apply to the Exchange Notes. \nThe purpose of the Exchange Offer is to fulfill the Company's obligations under the applicable registration rights agreement entered into in connection with the issuance of the Outstanding Notes. The Company will not receive any proceeds from the Exchange Offer. \nThe Exchange Offer will expire at 5:00 p.m. New York City time, on December 15, 2021, unless extended (such date and time, as may be extended, the \"Expiration Date\"). The settlement date for the Exchange Offer will occur promptly following the Expiration Date. The terms of the Exchange Offer and other information relating to the Company are set forth in a prospectus dated November 16, 2021 (the \"prospectus\"), a copy of which has been filed with the Securities and Exchange Commission (the \"SEC\"). The Company has not authorized any person to provide information other than as set forth in the prospectus. \nADDITIONAL INFORMATION \nCopies of the prospectus can be obtained from the exchange agent, Global Bondholder Ser...