Cohu, Inc. has announced the pricing of a $260 million aggregate principal amount of 1.50% convertible senior notes due 2031 in a private offering to qualified institutional buyers under Rule 144A of the Securities Act. The offering was upsized from a previously announced $200 million. Initial purchasers have also been granted an option to purchase up to an additional $27.5 million of the notes by October 3, 2025. The notes will mature on January 15, 2031, and will bear interest at an annual rate of 1.50%, payable semi-annually beginning January 15, 2026. A portion of the proceeds will be used to purchase capped calls to offset potential share dilution up to a 100% premium to the last reported sale price of Cohu's common stock on the pricing date. The offering is expected to close on September 29, 2025.