Skyworks Extends Qorvo Exchange Offer Deadline to October 2

Skyworks Solutions (Nasdaq: SWKS) said on September 25, 2026, that it extended the expiration and withdrawal deadline for its exchange offers covering Qorvo's 4.375% Senior Notes due 2029 and 3.375% Senior Notes due 2031 to 5:00 p.m. New York City time on October 2, 2026. Holders had tendered 91.68% of the 2029 series, or $779.25 million of the $850 million outstanding, and 93.33% of the 2031 series, or $653.33 million of the $700 million outstanding, as of the prior deadline.

Context — why the Skyworks-Qorvo note exchange matters now

The exchange offers sit inside a larger transaction. Skyworks is issuing new notes to replace Qorvo's old ones as part of a deal in which Qorvo will merge into a Skyworks subsidiary, with that subsidiary surviving as a wholly-owned Skyworks entity. Every exchange offer is conditioned on that merger closing, and Skyworks told holders it cannot waive that condition. The merger itself is not conditioned on the exchange results — the two tracks run in parallel.

Skyworks extended these deadlines once before, pushing the expiration and withdrawal cutoff to 5:00 p.m. New York City time on September 25, 2026. The company has now moved that same cutoff another week, to October 2, 2026, subject to further extension or earlier termination. The prior extension is the comparable the company itself provides: this is the second time the window has moved, and both moves point at the same gating item — the merger closing date.

The company said it is hopeful the merger will close within the calendar year, subject to satisfaction or waiver of all closing conditions, and that it is preparing to close as early as within the fiscal year. Skyworks also said there can be no assurances the closing occurs on that timeline.

The offer mechanics explain the extension. Settlement is expected no earlier than the second business day after the merger close, so a tender window that closed before the merger would leave holders locked into an exchange that could not settle. Extending the cutoff keeps the offer open while the merger conditions clear.

Data — what the numbers show

Participation is already deep on both series. Global Bondholder Services Corporation, the information agent, advised Skyworks of the following positions as of 5:00 p.m. New York City time on September 25, 2026, the last business day before the further extension was announced.

Series	Principal outstanding	Principal tendered	Tendered
4.375% Senior Notes due 2029	$850,000,000	$779,250,000	91.68%
3.375% Senior Notes due 2031	$700,000,000	$653,328,000	93.33%

Against the caps Skyworks set, the 2029 offer accepts up to $850 million of new 4.375% notes and the 2031 offer up to $700 million of new 3.375% notes — matching the outstanding principal of each Qorvo series, so neither offer is scaled back by design. Holders who already tendered and did not withdraw keep their tenders effective and do not need to act. Those who have not tendered, or who tendered and withdrew, can still tender or re-tender through the new deadline and remain eligible for the consideration described in the prospectus, including the early participation premium if they submit a valid early participation number.

Analysis — what it means for markets and tickers

The second-order read runs through the merged balance sheet. Skyworks said the merger brings a substantial amount of additional indebtedness, and the exchange offers are the mechanism that folds Qorvo's paper into Skyworks-issued paper with matching coupons and maturities. Credit desks tracking SWKS now hold a clearer map of what the combined entity owes: the 2029 and 2031 stacks, plus whatever Skyworks already carries.

The 91.68% and 93.33% tender rates matter because they show the exchange is not a fight. Holdout risk is concentrated in the roughly 8.3% of the 2029 series and 6.7% of the 2031 series that had not tendered. Those holders retain the option to tender through October 2, and the early participation premium is the lever designed to pull them in.

One counter-argument deserves weight: high participation does not guarantee the merger closes on Skyworks' preferred timeline. The company itself flagged that regulatory approvals may not arrive on time, may not arrive at all, or may carry conditions, and that integration may fail to deliver expected synergies. The exchange offer is conditioned on the merger, not the reverse.

Positioning follows the structure. Holders who tendered early are effectively long the combined-entity credit story; holders still on the sidelines are short that conviction until the merger date firms up. The dealer manager on the offers is Goldman Sachs & Co. LLC, and the exchange and information agent is Global Bondholder Services Corporation.

Outlook — what to watch next

Three dates frame the near term. The first is October 2, 2026, at 5:00 p.m. New York City time, the extended expiration and withdrawal cutoff. The second is the merger closing date, which Skyworks says it hopes lands within the calendar year and is preparing for as early as within the fiscal year. The third is the settlement date, expected no earlier than the second business day after the merger close.

Skyworks retains sole discretion to modify or terminate either exchange offer and to extend the expiration or settlement dates, subject to law. A change to one offer does not automatically change the other, and neither offer is conditioned on the other completing. Regulatory clearances for the merger remain the open variable the company named. Readers tracking the credit should watch the tender rate on the two series for movement above the current 91.68% and 93.33% levels.

Frequently Asked Questions

What happens if I already tendered my Qorvo notes?

Nothing changes for you. Skyworks said holders who validly tendered and did not validly withdraw their Qorvo notes do not need to re-tender or take any other action because of the extension, and their tenders remain effective. You keep the consideration described in the prospectus, including the early participation premium if you submitted a valid early participation number with your tender.

Why did Skyworks extend the exchange offer deadline?

The offer is conditioned on the Qorvo merger closing, and settlement cannot occur before the second business day after that close. Skyworks said it is preparing to close the merger as early as within the fiscal year but gave no assurances on timing. Extending the cutoff to October 2 keeps the tender window open while merger conditions, including regulatory approvals, clear.

What do the 91.68% and 93.33% tender rates mean?

They show how much of each Qorvo series has already been committed to the exchange. For the 2029 notes, $779.25 million of $850 million was tendered; for the 2031 notes, $653.33 million of $700 million. The untendered remainder — roughly 8.3% and 6.7% respectively — can still be tendered through the new deadline and receive the applicable consideration.

Bottom Line

Skyworks bought itself another week on the Qorvo note exchange, with participation already above 91% on both series.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. CFD trading carries high risk of capital loss.