Company: COHU
Filing Date: 2025-09-29
Form Type: 8-K
Source: 0001437749-25-030026
Chunk: 0

Company: COHU INC
Filing Date: 2025-09-29
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement.

1.50% Convertible Senior Notes due 2031

On September 29, 2025, Cohu, Inc. (the “ Company”) issued $287.5 million aggregate principal amount of 1.50% Convertible Senior Notes due 2031 (the “ Notes”). The Notes issued on September 29, 2025 include the full exercise by the initial purchasers on September 25, 2025 of their option to purchase an additional $27.5 million aggregate principal amount of Notes.

Use of Proceeds

The Company’s net proceeds from this offering were approximately $278.9 million, after deducting the initial purchasers’ discounts and commissions but before estimated offering expenses. The Company used approximately $28.4 million of the net proceeds from the offering to pay the cost of the capped call transactions (as described below). The Company intends to use the remaining net proceeds for general corporate purposes.

Indenture

The Company issued the Notes pursuant to an indenture (the “ Indenture”), dated as of September 29, 2025, between the Company and U. S. Bank Trust Company, National Association, as trustee (the “ Trustee”).

The Notes will mature on January 15, 2031, unless earlier converted, redeemed or repurchased. Interest on the Notes will accrue at a rate of 1.50% per year and will be payable semiannually in arrears on January 15 and July 15 of each year, beginning on January 15, 2026. The Notes are the Company’s senior unsecured obligations and are (i) equal in right of payment with the Company’s existing and future senior unsecured indebtedness; (ii) senior in right of payment to the Company’s existing and future indebtedness that is expressly subordinated to the Notes; (iii) effectively subordinated to the Company’s existing and future secured indebtedness, to the extent of the value of the collateral securing that indebtedness; and (iv) structurally subordinated to all existing and future indebtedness and other liabilities, including trade payables, of the Company’s subsidiaries.

Prior to the close of business on the business day immediately preceding October 15, 2030, noteholders will have the right to convert their Notes only upon the occurrence of certain events. On or after October 15, 2030, noteholders may convert all or any portion of their Notes at any