US Semiconductor Company Raises 1.5 Trillion Won with 0% Convertible Bonds

Amkor Technology, Inc. (NASDAQ: AMKR) completed a private placement of zero-coupon convertible senior notes at the end of April, raising $1.0 billion. On May 5, following full exercise of the underwriters’ option, the offering was upsized to $1.15 billion in notes due 2031.

The notes are senior unsecured obligations with a conversion ratio of 9.4013 shares per $1,000 principal (an initial conversion price of approximately $106.37 per share, representing a roughly 52.5% premium to the market price at pricing). They feature provisions for early redemption if the stock exceeds specified price thresholds and allow settlement at conversion in cash, shares, or a combination thereof. Amkor plans to use a significant portion of the proceeds to enter capped-call transactions aimed at offsetting dilution, with the remainder funding general capital expenditures.

On May 5, independent director Roger A. Carrolin exercised 20,000 stock options granted in 2017 at a strike price of $11.71 per share and immediately sold the shares at $76.24, realizing a gain of about $1.29 million. He continues to hold more than 94,000 shares following the transaction.

In its April 27 release of first-quarter 2026 results, Amkor reported record quarterly revenue of $1.68 billion, a 27% increase year over year. The board also approved a share repurchase program of up to $300 million to enhance shareholder returns.

Headquartered in Arizona, Amkor Technology is the largest U.S.-based outsourced semiconductor assembly and test (OSAT) provider, delivering advanced packaging and test services to global clients in smartphones, data centers, artificial intelligence, automotive, and other markets. With AI and high-performance computing driving demand for sophisticated packaging, the OSAT industry is expected to see continued growth focused on advanced solutions beyond 2025.