Synaptics Announces Proposed Private Offering of $100 Million of Convertible Senior Subordinated Notes

Synaptics Announces Proposed Private Offering of $100 Million of Convertible Senior Subordinated Notes

SAN JOSE, Calif., Nov. 30 /PRNewswire-FirstCall/ -- Synaptics Incorporated (NASDAQ:SYNA) today announced that it intends to offer $100 million of Convertible Senior Subordinated Notes due 2024 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. Synaptics also intends to grant the initial purchasers of the notes an option to purchase up to an additional $20 million aggregate principal amount of the notes. The notes will bear interest and will be convertible into shares of Synaptics common stock, at a rate and price to be determined at the time of the pricing of the offering.

The company expects to use the net proceeds of the offering for working capital and general corporate purposes and potentially for future acquisitions. The company currently has no understandings or agreements with respect to any acquisitions, and no assurance can be provided that it will complete any such transactions.

This announcement is neither an offer to sell nor a solicitation of an offer to buy any of the securities to be offered. The notes will be offered and sold only to qualified institutional buyers in accordance with Rule 144A under the Securities Act. Any offers of the securities will be made only by means of a confidential offering memorandum. The notes and the underlying common stock issuable upon conversion of the notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements.

About Synaptics

Synaptics is a leading developer of interface solutions for the mobile computing, communications, and entertainment industries. The company creates interface solutions for a variety of devices including notebook PCs, PC peripherals, digital music players, and mobile phones. The TouchPad(TM), Synaptics' flagship product, is integrated into more than 50 percent of today's notebook computers. Consumer electronics and computing manufacturers use Synaptics' solutions to enrich the interaction between humans and intelligent devices through improved usability, functionality, and industrial design. The company is headquartered in San Jose, California. The company's website is www.synaptics.com.

Forward-Looking Statements

This press release contains "forward-looking" statements about Synaptics, as that term is defined under the federal securities laws. Synaptics intends such forward-looking statements to be subject to the safe-harbor created by those laws. Such forward-looking statements include the company's intent to complete the described offering and the company's use of the proceeds of such offering. Synaptics cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by the forward-looking statements contained herein. Such factors include, but are not limited to, stock and debt market conditions, and other risks as identified from time to time in Synaptics' SEC reports, including Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and Annual Reports on Form 10-K. All forward-looking statements are based on information available to Synaptics on the date hereof, and Synaptics assumes no obligation to update such statements.

Contact:

Jennifer Jarman
The Blueshirt Group for Synaptics
415-217-7722
jennifer@blueshirtgroup.com


Source: Synaptics Incorporated

CONTACT: Jennifer Jarman of The Blueshirt Group, +1-415-217-7722 or
jennifer@blueshirtgroup.com, for Synaptics

Web site: http://www.synaptics.com/


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