The Firm recently represented the initial purchasers, led by Morgan Stanley & Co. LLC and Lazard Capital Markets LLC, in connection with Micron Technology, Inc.’s offering of $345 million aggregate principal amount of 1.50% Convertible Senior Notes due 2031 and $345 million aggregate principal amount of 1.875% Convertible Senior Notes due 2031, which reflects the initial purchasers’ full exercise of their over-allotment options. The notes were offered only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended.

Simpson Thacher also represented BNP Paribas, Morgan Stanley & Co. International plc and Société Générale in connection with capped call option transactions under which Micron Technology, Inc. purchased call options covering, subject to anti-dilution adjustments, approximately 72.6 million shares of its common stock, entered into concurrently with such notes offering. 

Micron Technology, Inc., through its subsidiaries, manufactures semiconductor devices, principally DRAM, NAND Flash and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial and mobile products. 

The Simpson Thacher team included Bill Hinman, Ryan Nolan, Michael Reeves and Rachel Muchmore (Capital Markets); Joyce Xu, Sunny Cheong and A. Reid Monroe-Sheridan (Derivatives); Marcy Geller and Dan Foster (Tax); Michael Isby (Environmental); Jennifer Wolff (Executive Compensation and Employee Benefits); Alexis Coll-Very and Michelle Woodhouse (Litigation); Jeff Ostrow (IP); and Jennie Getsin (Blue Sky).