Semtech to Offer Notes to Raise $250 Million

Semtech Corp. in Newbury Park said it intends to raise approximately $250 million through a private offering of convertible subordinated notes.

The company said it will use the proceeds of the offering for general corporate purposes, including working capital, expansion of sales, marketing and customer service capabilities, and product development.

In addition, the company may use a portion of the proceeds to acquire or invest in complementary businesses, technologies, services or products. Officials said the company currently has no commitments or agreements with respect to any acquisition or investment.