BUZZ-Indie Semiconductor tumbles after unveiling convertible bond offering plans

Reuters03-04

BUZZ-<a href="https://laohu8.com/S/INDI">Indie Semiconductor</a> tumbles after unveiling convertible bond offering plans

** Indie Semiconductor INDI.O shares down 14.9% post-market at $2.69 after planned capital raise news

** Developer of sensors for advanced driver assistance systems announces private offering of $150 mln convertible bonds (CBs) due 2031

** It intends to use net offering proceeds to repurchase up to approx $100 mln of its 4.50% CBs due 2027, remainder for working capital and other purposes, including potential acquisitions

** Aliso Viejo, California-based INDI has ~223.6 mln shares outstanding for roughly $700 mln market cap

** Shares finished down 7.1% at $3.16 on Tues, down 10.5% YTD

** 6 analysts rate stock "buy", 1 rates "hold"; median PT $6, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))

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