We advised the underwriters on the offering

Davis Polk advised the representatives of the several underwriters in connection with an SEC-registered offering by SiTime Corporation of an aggregate principal amount of $1.35 billion of its 0% convertible senior notes due 2031, which included $150 million aggregate principal amount of notes pursuant to the exercise in full of the underwriters’ over-allotment option to purchase additional notes. The notes were issued as part of the financing for SiTime’s acquisition of the timing business of Renesas Electronics Corporation.

SiTime is a leading provider of precision timing solutions to the global electronics industry. Its precision timing solutions are the heartbeat of its customers’ electronic systems, providing the timing functionality that is needed for electronics to operate reliably and correctly.

The Davis Polk capital markets team included partners Alan F. Denenberg and Hillary A. Coleman and associates Matthew Franklin and Larry Lo. The equity derivatives team included partner Caitlin L. Wood and associates Richard Stockton Bullitt, Danielle Forni, Chanique C. Vassell and Selena (Zhijun) Fu. Partner Aliza Slansky provided tax advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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