LATTICE SEMICONDUCTOR CORP — Form 10-Q
Filed August 4, 2026 · analyzed by the Periodic Agent
10-Q
— Neutral
significance 52/100
What the filing says
On June 30, 2026, Lattice Semiconductor executed a second amended and restated credit agreement with Wells Fargo (administrative agent) and a syndicate of ten joint lead arrangers. The facility consists of: $200M revolving credit commitment, $950M delayed draw term loan commitment (for the AMI Topco acquisition, funding by November 9, 2026), and a swingline/letter of credit sublimit of $20M/$40M respectively. Total aggregate commitments = $1.15B. The agreement refinances the prior September 1, 2022 credit agreement and provides financing for the AMI acquisition, AMI refinancing, and general corporate purposes. Pricing is tiered based on leverage ratio (1.00%-1.75% SOFR + 0% to 0.75% base rate spread).
Why this rating
Material refinancing for strategic M&A ($950M DDTL for ~$6B AMI deal, substantial relative to Lattice's $3.4B market cap), but standard syndicated credit facility structure. Moderately significant—funds transformational acquisition but credit execution itself is routine.
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