SMART Global Holdings, Inc. $250 Million Convertible Senior Notes Offering

Davis Polk advised SMART Global Holdings, Inc. in connection with a Rule 144A offering of $250 million aggregate principal amount of its 2.25% convertible senior notes due 2026. Davis Polk also advised SMART on capped call transactions in connection with the offering.

Headquartered in the Cayman Islands, SMART is a global leader in specialty memory, storage and hybrid solutions serving the electronics industry for over 25 years. SMART delivers components, modules and solutions to a broad OEM customer base, in computing, networking, communications, storage, mobile and industrial markets.

The Davis Polk corporate team included partner Alan F. Denenberg and associates Bryan M. Quinn, Benson Richards and Joseph G. Marano. The equity derivatives team included partner John M. Brandow and counsel Justin Michael. The tax team included partner Rachel D. Kleinberg and associate Adam R. Brownstone. Partner Frank J. Azzopardi and associate Jennifer Leather provided intellectual property advice. Members of the Davis Polk team are based in the Northern California and New York offices.