Vishay Intertechnology Announces $750 Million Common Stock Offering
Vishay Intertechnology Inc (NYSE: VSH) disclosed that it has commenced an underwritten public offering of $750 million of its common stock. The company granted the underwriters a 30‑day option to purchase up to an additional $112.5 million of shares, potentially increasing the total size of the offering.
The offering is being sold exclusively by Vishay, and J.P. Morgan is serving as the lead book‑running manager. Additional book‑running managers are Needham & Company, Oppenheimer & Co., Raymond James, TD Cowen and Truist Securities, while Fifth Third Securities, MUFG, Santander and UniCredit act as co‑managers. The proposed transaction is subject to market and other conditions, and Vishay provided no assurance regarding the timing, completion, or final terms of the offering.
In response to the announcement, Vishay’s shares declined 9.4% in after‑hours trading on Monday. The company stated that net proceeds will be used to accelerate growth initiatives, fund general corporate purposes, and reduce current borrowings under its senior secured credit facility.
Vishay manufactures discrete semiconductors and passive electronic components serving automotive, industrial, computing, consumer, telecommunications, military, aerospace, and healthcare markets. The firm is listed as a Fortune 1,000 company on the New York Stock Exchange.