• Onto Innovation priced an upsized private offering of USD 1.3 billion of 0.00% Convertible Senior Notes due 2031.
• The deal was increased from USD 1.1 billion, with an option for initial purchasers to buy up to an additional USD 200 million of notes.
• The notes carry an initial conversion price of about USD 381.8 a share, implying a 50% premium to the May 18 close of USD 254.53.
• Net proceeds are estimated at about USD 1.27 billion, including about USD 77.1 million for capped call transactions.
• About USD 205 million is earmarked for repurchasing about 800,000 shares at USD 254.53, with the balance for general corporate purposes including a planned 27% stake purchase in Rigaku Holdings.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Onto Innovation Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-234610), on May 21, 2026, and is solely responsible for the information contained therein.