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Technology Stocks : MCDT
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To: Patherzen who started this subject2/3/2003 10:00:34 AM
From: w2j2   of 145
 
BROOMFIELD, Colo., Feb 3 (Reuters) - McData Corp. (NASDAQ:MCDT),
a high-end computer storage networking company, said on Monday
it plans to sell about $150 million of notes through a private
offering and use the proceeds for general corporate purposes.
The offering of convertible subordinated notes is expected
to start on Feb. 3, the company said in a statement. The terms
of the offering will likely include an option for up to an
additional $22.5 million of notes.
The notes will be convertible into shares of the company's
class A common stock.
While the proceeds will be used as working capital and for
capital spending or acquisitions, a portion will be used to
enter into share option deals with certain of the initial
purchasers.
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