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PROSPECTUS SUPPLEMENT NO. 1 Filed Pursuant to Rule 424(b)(3)
(To Prospectus dated June 12, 2000) Registration Statement No. 333-36632
[LOGO OF SEMTECH]
$400,000,000 4 1/2% Convertible Subordinated Notes Due 2007
and
4,735,970 Shares of Common Stock Issuable Upon Conversion of the Notes
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The following information supplements information contained in our
prospectus dated June 12, 2000, relating to the potential offer and sale from
time to time by holders of the notes and the underlying shares of our common
stock. See "Plan of Distribution" in our prospectus.
This prospectus supplement may only be delivered or used in connection with
our prospectus. This prospectus supplement is incorporated by reference into our
prospectus. Our common stock is listed on The Nasdaq National Market under the
symbol "SMTC."
NEITHER THE SECURITIES AND EXCHANGE COMMISSION NOR ANY STATE SECURITIES
COMMISSION HAS APPROVED OR DISAPPROVED OF THESE SECURITIES OR PASSED UPON THE
ADEQUACY OR ACCURACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A
CRIMINAL OFFENSE.
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Prospectus Supplement dated June 19, 2000.
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We originally issued and sold the notes to Morgan Stanley & Co.
Incorporated and Banc of America Securities LLC, as initial purchasers, in a
transaction exempt from the registration requirements of the Securities Act.
The initial purchasers sold the convertible notes to persons reasonably believed
by the initial purchasers to be qualified institutional buyers or other
institutional accredited investors. Selling holders, including their
transferees, pledgees or donees or their successors, may from time to time offer
and sell any or all the notes and common stock into which the notes are
convertible.
_______________________________
The following table supplements the information in our prospectus with
respect to the selling holders and the principal amounts of notes and common
stock they beneficially own that may be offered under our prospectus. The
information is based on information provided by or on behalf of the selling
holders. All information provided in this prospectus supplement is as of June
16, 2000.
The selling holders may offer all, some or none of the notes or common
stock into which the notes are convertible. Thus, we cannot estimate the amount
of the notes or the common stock that will be held by the selling holders upon
termination of any sales. The column showing ownership after completion of the
offering assumes that the selling holders will sell all of the securities
offered by this prospectus. In addition, the selling holders identified below
may have sold, transferred or otherwise disposed of all or a portion of their
notes since the date on which they provided the information about their notes in
transactions exempt from the registration requirements of the Securities Act.
None of the selling holders has had any material relationship with us or our
affiliates within the past three years. This table assumes that other holders of
notes or any future transferee from any such holder do not beneficially own any
common stock other than common stock into which the notes are convertible.
<TABLE>
<CAPTION>
Common Stock
Beneficially Owned
Principal Amount of Common Stock Common After Offering(2)
Notes Beneficially Beneficially Owned Stock ---------------
Name and Address Owned and Offered Before Offering Offered(1) Amount %
---------------- ------------------- ------------------ ---------- ------ ----
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<S> <C> <C> <C> <C> <C>
Tribeca Investments, L.L.C......................... $22,000,000 3,000,000 260,478 3,000,000 *
399 Park Avenue, 7th Floor
New York, NY 10043
Susquehanna Capital Group.......................... $ 1,000,000 0 11,840 0 *
Attn: Mike Ferry
401 City Avenue, Suite 220
Bala Cynwyd, PA 19004
CIBC World Markets................................. $ 5,622,000 0 66,564 0 *
200 Liberty Street, 8th Floor
New York, NY 10281
Lehman Brothers Inc................................ $ 1,250,000 0 14,800 0 *
200 Vesey Street, 6th Floor
New York, NY 10285
Prudential Securities Inc.......................... $ 1,000,000 0 11,840 0 *
1 New York Plaza
New York, NY 10292
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TOTAL.............................................. $30,872,000 3,000,000 365,522 3,000,000 *
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</TABLE>
* Less than 1%.
(1) Assumes conversion of all the holder's notes at a conversion price of
$84.46 per share of common stock and resale of all shares of common stock
offered hereby.
(2) Calculated based on Rule 13d-3(d)(1) promulgated under the Securities
Exchange Act of 1934, as amended.
(3) Information about other selling security holders will be set forth in
prospectus supplements or amendments, if required.
(4) Assumes that any other holders of notes, or any future transferees,
pledgees, donees or successors of or from any such other holders of notes,
do not beneficially own any common stock other than the common stock
issuable upon conversion of the notes at the initial conversion rate.
Information concerning the selling holders may change from time to time and
any changed information will be set forth in supplements or amendments to this
prospectus, if necessary. In addition, the per share conversion price, and
therefore the number of shares of common stock issuable upon conversion of the
notes, is subject to adjustment. As a result, the aggregate principal amount of
notes and the number of shares of common stock into which the notes are
convertible may increase or decrease.
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