ROTH Capital Partners acts as Co-Manager for InterDigital (IDCC) in its $400 Million Senior Convertible Notes Offering

   

For more information please contact:

Investment Banking
David Enzer
Managing Director
(310) 445-5868
denzer@roth.com

Robert Reid
Vice President
(949) 720-7146
rreid@roth.com


Equity Capital Markets
Aaron Gurewitz
Head of Equity
Capital Markets
(949) 720-5703
agurewitz@roth.com
 
Nazan Akdeniz
Senior Vice President
(949) 720-5740
nakdeniz@roth.com
 
Lou Ellis
Senior Vice President
(949) 720-5739
lellis@roth.com

Transaction Information
InterDigital, Inc. (IDCC) has closed a $400 million offering of 2.00% Senior Convertible Notes due 2024 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The $400 million includes $50 million aggregate principal amount of the notes issued pursuant to the full exercise of the over-allotment option. The notes will be senior unsecured obligations of InterDigital and will pay interest semi-annually in cash on June 1 and December 1 at a rate of 2.00% per year, and will mature on June 1, 2024.

Prior to March 1, 2024, the notes will be convertible only upon the occurrence of certain events and during certain periods, and thereafter, at any time until the second scheduled trading day preceding the maturity date. The notes will be convertible at an initial conversion rate of 12.3018 shares of InterDigital common stock per $1,000 principal amount of the notes, which is equivalent to an initial conversion price of approximately $81.29, which represents a 30% conversion premium to the closing sale price of $62.53 per share of InterDigital common stock on the NASDAQ Global Select Market on May 29, 2019. In addition, following certain corporate transactions that occur prior to the maturity date, InterDigital will, in certain circumstances, increase the conversion rate for a holder that elects to convert its notes in connection with such a corporate transaction. Upon any conversion, the notes will be settled in cash, shares of InterDigital's common stock or a combination thereof, at InterDigital's election.

ROTH Capital Partners acted as co-manager for the offering.

About InterDigital, Inc.
InterDigital develops mobile technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry's most critical and complex technical challenges, inventing solutions for more efficient broadband networks and a richer multimedia experience years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world's leading wireless companies. Founded in 1972, InterDigital is listed on NASDAQ and is included in the S&P MidCap 400(R) index. For more information, please visit www.interdigital.com.
(Source: Company Press Release | 5/30/19)

About ROTH Capital Partners
ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S. For more information on ROTH, please visit www.roth.com.

Date of Announcement: 6/4/19

The material, information and  facts discussed in this announcement other than the information regarding ROTH Capital Partners, LLC ("ROTH") and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This announcement should not be used as a complete analysis of any companies, securities or topics discussed herein. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this announcement are subject to change without notice. An investment in any security based on this announcement may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, such investments may involve a high degree of risk and may not be suitable for all investors. No part of this announcement may be reproduced in any form without the express written permission of ROTH. Copyright 2019.