We advised the initial purchasers on the offering

Davis Polk advised the representatives of the several initial purchasers in connection with a Rule 144A offering by Diodes Incorporated of $375 million aggregate principal amount of its 0.00% convertible senior notes due 2031, which included the full exercise of the option by the initial purchasers to purchase an additional $50 million aggregate principal amount of the convertible senior notes. In addition, Davis Polk advised the counterparties to the capped call transactions entered into in connection with the offering.A portion of the net proceeds from the offering were used by Diodes to concurrently repurchase 360,119 shares of common stock from one of the initial purchasers at $97.19 per share. Gross proceeds to the initial purchaser were approximately $35 million. The shares of common stock are listed on the Nasdaq under the symbol “DIOD.”

Diodes delivers high-quality semiconductor products to the world’s leading companies in the automotive, industrial, computing, consumer electronics and communications markets. Diodes’ diverse product portfolio covers diodes, rectifiers, transistors, MOSFETs, SiC diodes and MOSFETs, protection devices, logic, voltage translators, amplifiers and comparators, sensors and power management devices such as AC-DC converters, digital isolators and isolated gate drivers, DC-DC switching, photocoupler, linear voltage regulators, voltage references, LED drivers, power switches and voltage supervisors. Diodes also has timing and connectivity solutions including clock ICs, crystal oscillators, PCIe packet switches, multi-protocol switches, interface products and signal integrity solutions for high-speed signals.

The Davis Polk corporate team included partner Maurice Blanco and associates Sofia Sitterson and Robert Safonte. The equity derivatives team included partner Mark M. Mendez, counsel Richard Stockton Bullitt and associates Alexander S. Pettingell, Zifeng Zeng and Chanique C. Vassell. Partner Lucy W. Farr and associates Peyton Williams provided tax advice. Members of the Davis Polk team are based in the New York and London offices.

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