Allegro MicroSystems (ALGM) Launches Incremental Term Loan

Allegro MicroSystems, Inc. (“Allegro”) (Nasdaq: ALGM), a global leader in power and sensing solutions for motion control and energy-efficient systems, today announced the launch of syndication of an incremental term loan under the Credit Agreement, dated as of June 21, 2023, by and among Allegro, Allegro MicroSystems, LLC, the lenders and the other parties thereto (the "Incremental Term Loan"). Proceeds from the Incremental Term Loan will be used to repurchase shares from Allegro’s majority shareholder, Sanken Electric Co., Ltd. (“Sanken”). The foregoing transactions are subject to market and other conditions, and there can be no assurance as to whether, or when, the transactions may be completed or as to the actual size or terms of the Incremental Term Loan.

Morgan Stanley and Barclays are acting as joint lead arrangers and book-runners for the Incremental Term Loan.

PJT Partners is acting as financial advisor to Allegro.

About Allegro MicroSystems

Allegro MicroSystems, Inc. is a leading global designer, developer, fabless manufacturer and marketer of sensor integrated circuits (“ICs”) and application-specific analog power ICs enabling emerging technologies in the automotive and industrial markets. Allegro’s diverse product portfolio provides efficient and reliable solutions for the electrification of vehicles, automotive ADAS safety features, automation for Industry 4.0 and power-saving technologies for data centers and clean energy applications.

You May Also Be Interested In

• Morgan Stanley Starts Sampo Oyj (SAMPO:FH) (SAXPY) at Equalweight
• Barclays Downgrades AvalonBay Communities (AVB) to Equalweight
• USA Today (TDAY) PT Raised to $10 at Citizens as In-Line Results Expected