Item 2.01 Completion of Acquisition or Disposition of Assets. On July 20, 2021, Cirrus Logic, Inc., a Delaware corporation ("Cirrus Logic"), completed its previously announced acquisition of Lion Semiconductor Inc., a Delaware corporation ("Lion").

Cirrus Logic acquired Lion pursuant to the Agreement and Plan of Merger entered into on July 8, 2021 (the "Merger Agreement"), by and among Cirrus Logic, Lion, Leo Merger Sub, Inc., and Fortis Advisors LLC, solely in its capacity as agent for Lion's securityholders, for $335 million in cash, adjusted for cash, debt, net working capital, transaction expenses, and holdback amounts.

Lion is now a wholly-owned subsidiary of Cirrus Logic.

The foregoing description of the Merger Agreement is not complete and is qualified in its entirety by reference to the Merger Agreement, which was filed with the SEC on July 8, 2021 as Exhibit 10.1 to Cirrus Logic's Current Report on Form 8­K, and which is incorporated herein by reference into this Item 2.01.

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