8-KMaterial AgreementsFinancial EventsOther Events+1

MICRON TECHNOLOGY INC 8-K Report, Material Agreement (Apr 20, 2009)

Filed April 20, 2009For Securities:MU

Summary

Micron Technology Inc. (MU) filed an 8-K report on April 20, 2009, primarily to disclose exhibits related to a recent financing event. The core of this filing concerns the issuance of Convertible Senior Notes. Specifically, the company entered into a Convertible Senior Indenture with Wells Fargo Bank, National Association, dated April 15, 2009, to govern the terms of these notes. These notes are designated as 4.25% Convertible Senior Notes due October 15, 2013. The filing also includes an opinion from Wilson Sonsini Goodrich & Rosati, Professional Corporation, confirming the validity of these notes and the associated shares, which is a standard legal requirement for such issuances. Investors should note this filing indicates Micron's engagement in debt financing with convertible features, providing potential flexibility in its capital structure.

Key Highlights

  • 1Filing discloses exhibits related to the issuance of Convertible Senior Notes.
  • 2A Convertible Senior Indenture with Wells Fargo Bank, National Association was executed on April 15, 2009.
  • 3The notes bear a 4.25% interest rate and mature on October 15, 2013.
  • 4The filing includes the form of the 4.25% Convertible Senior Note.
  • 5Legal opinion from Wilson Sonsini Goodrich & Rosati regarding the validity of the notes and shares is provided.
  • 6This filing signals Micron's use of convertible debt as a financing strategy.

Frequently Asked Questions

This 8-K filing primarily serves to disclose the exhibits associated with Micron Technology's recent issuance of Convertible Senior Notes, including the indenture agreement and a legal opinion on their validity.

The notes are designated as 4.25% Convertible Senior Notes, meaning they carry an annual interest rate of 4.25%, and they are due to mature on October 15, 2013.

Wells Fargo Bank, National Association is acting as the trustee for the Convertible Senior Indenture.

The opinion from Wilson Sonsini Goodrich & Rosati confirms the legal validity of the Convertible Senior Notes and the associated shares that may be issued upon conversion.