On March 20, 2025, Microchip Technology Inc. entered into an agreement to sell 27 million depositary shares of its 7.50% Series A Mandatory Convertible Preferred Stock, with an additional 2.7 million shares sold on March 21, 2025, and the offering closed on March 25, 2025. The preferred stock will accumulate dividends at 7.50% and convert into common stock by March 15, 2028.