Silicon Motion Technology priced an upsized private Rule 144A sale of $1.0 billion in 0.00% convertible senior notes due 2031, up from the $800 million deal it had announced earlier, and granted initial purchasers an option to buy up to another $150 million. The notes are scheduled to settle on Aug. 13, 2026, carry an initial conversion rate of 2.6281 ADSs per $1,000 principal amount, equivalent to about $380.50 per ADS, a 65% premium to the Aug. 10 last reported sale price of $230.61, and are expected to generate about $980 million in net proceeds, or $1.127 billion if the full option is exercised. Silicon Motion said it will use the funds for general corporate purposes and to repay borrowings under its credit agreement; the financing follows an earlier share decline on dilution concerns even as the company has reported record Q1 2026 revenue of $342.1 million and drawn analyst support tied to AI-related storage demand.