Advanced Energy Industries, Inc. ("Advanced Energy") (NASDAQ:AEIS), a global leader in highly engineered, precision power conversion, measurement, and control solutions, announced today that it intends to offer, subject to market and other conditions, $1.0 billion aggregate principal amount of Convertible Senior Notes due 2031 (the "notes") in a private offering. The notes will be offered only to persons reasonably believed to be qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Advanced Energy also expects to grant the initial purchasers of the notes an option to purchase up to an additional $150 million aggregate principal amount of the notes.

Advanced Energy intends to use a portion of the net proceeds from the offering to pay the cost of the capped call transactions it plans to enter into in connection with the offering, as described below. In addition, Advanced Energy expects to use a portion of the net proceeds from the offering and to issue shares of its common stock, collectively, in exchange for certain of its previously issued 2.50% Senior Convertible Notes due 2028 (the "2028 convertible notes"), as described below. Advanced Energy intends to use the remainder of the net proceeds from the offering for general corporate purposes, including potential retirement of the remaining 2028 convertible notes outside of the exchange.