Latham & Watkins Advises Cree in US$500 Million Convertible Senior Notes Offering

Cree, Inc. (Cree) has announced the pricing of US$500 million aggregate principal amount of its 1.75% Convertible Senior Notes due 2026 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933. In addition, Cree has granted the initial purchasers of the Notes an option to purchase, for settlement within a 13-day period from, and including, the date on which the Notes are first issued, up to an additional US$75 million aggregate principal amount of the Notes.

Latham & Watkins LLP represents Cree, Inc. in the transaction with a corporate team led by Bay Area partners Tad Freese and Brian Paulson, and New York partner Greg Rodgers, with Los Angeles counsel Arash Aminian Baghai, New York associate Ryan Gold, and Bay Area associate Tess Bloom. Advice was also provided on tax matters by New York partners Elena Romanova and Bora Bozkurt, with New York associate Ronald Moore.