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Technology Stocks : Vitesse Semiconductor

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To: Patton Wilson who wrote (3405)	3/8/2000 9:52:00 AM
From: David Lawrence	of 4710

WASHINGTON -(Dow Jones)- Vitesse Semiconductor Corp. (VTSS) priced $600 million of convertible subordinated notes due 2005 through Lehman Brothers late Tuesday. The Rule 144a private placement priced at par against a common stock price of 89 6/8 to yield 4%. The notes have a 25% conversion premium with a 8.9136 conversion ratio. Price talk on the notes had been between 3.75% and 4% and a conversion premium between 25% and 28%. The notes are convertible into Vitesse common stock at a conversion price of $112.1875. Vitesse plans to use proceeds from the notes offering for general corporate purposes. The semiconductor company is based in Camarillo, Calif. -Leticia Williams; Dow Jones Newswires; Federal Filings Business News; 202-628-9788 (This story was originally published by Dow Jones Newswires) Copyright (c) 2000 Dow Jones & Company, Inc. All Rights Reserved

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