Indie Semiconductor's stock price dropped 14.9% following the issuance of convertible bonds

LootboxPhobia · 2026-03-04T12:57:27+00:00

Indie Semiconductor's stock price dropped 14.9% to $2.69 in pre-market trading on Wednesday, reaching a nine-month low. The company announced the completion of a $150 million private placement of convertible bonds, plans to repurchase existing debt, and will use the proceeds for working capital and potential acquisitions.

LootboxPhobia

2026-03-04 12:57:27

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Investing.com – Indie Semiconductor (NASDAQ: INDI) stock dropped 14.9% pre-market on Wednesday to $2.69, hitting a nine-month low, after the company announced a private placement of convertible bonds.

The advanced driver-assistance system sensor developer said Wednesday morning that it has completed a private placement of $150 million worth of 4% convertible bonds, which will mature in 2031.

The initial conversion price is $3.87, a 22.5% premium over the previous trading day’s closing price of $3.16.

The company stated that it plans to use the net proceeds from the offering to repurchase approximately $104 million of 4.50% convertible bonds due 2027. The remaining funds will be used for working capital and other purposes, including potential acquisitions.

Headquartered in Aliso Viejo, California, the company has a market value of about $700 million.

The stock closed down 7% on Tuesday and has fallen 10.5% so far this year.

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