** Precision timing chipmaker SiTime's SITM.O shares down 2% before the bell at $680 after M&A-related raise

** Santa Clara, California-based SITM early Weds announced pricing public offering of $1.2 bln 0% convertible bonds due 2031

** Offering size increased from $1.1 bln; initial conversion price of $1,040.47 represents 50% premium to stock's last sale of $693.66

** SITM's stock fell for sixth straight day on Tues and lost 4.4% after co launched offering to pay cash portion of its acquisition of Renesas Electronics' 6723.T timing business

** SITM to use $108 mln of net offering proceeds to pay cost of capped call transactions, any remainder for general corp purposes

** Wells Fargo, Goldman Sachs, Barclays, UBS and Morgan Stanley joint bookrunners

** Through Tues close, stock had doubled this quarter. It hit intraday record high of $901.81 on May 11

** Earlier this month, SITM reported Q1 rev growth of 88% yr/yr to $113.6 mln, topping analysts' expectations, driven by AI infrastructure demand

** All 10 analysts are bullish including 2 "strong buy" ratings; median PT $812.50, per LSEG data