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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of report (Date of earliest event reported): September 12, 2022

 

Magnachip Semiconductor Corporation

(Exact name of Registrant as specified in its charter)

 

 

Delaware 001-34791 83-0406195

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

   

c/o MagnaChip Semiconductor S.A.

1, Allée Scheffer, L-2520

Luxembourg, Grand Duchy of Luxembourg

 

 

Not Applicable

(Address of Principal Executive Offices) (Zip Code)

Registrant’s telephone number, including area code: (352) 45-62-62

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

  

Trading Symbol

  

Name of each exchange on which registered

Common Stock, par value $0.01 per share   MX   New York Stock Exchange
Preferred Stock Purchase Rights        New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

   

 

Item 8.01.Other Events.

On September 12, 2022, Magnachip Semiconductor Corporation (“Magnachip” or “the Company”) issued a press release announcing that its Board of Directors authorized an expansion of the Company’s previously announced stock repurchase program from $75 million to $87.5 million of the Company’s common stock. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01.Financial Statements and Exhibits.
(d)Exhibits.

The following exhibit is furnished as part of this report:

Exhibit

No.

  

Description

     
99.1   Press Release of Magnachip Semiconductor Corporation, dated September 12, 2022
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

   

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  MAGNACHIP SEMICONDUCTOR CORPORATION  
       
Dated: September 13, 2022 By:

/s/ Theodore Kim

  
    Theodore Kim  
    Chief Compliance Officer, General Counsel and Secretary