LSI Logic Corporation Amends Registration Statement
MILPITAS, Calif., Aug. 4 /PRNewswire/ -- LSI Logic Corporation (NYSE: LSI) today announced it will be amending its current registration statement to cover up to $600 million aggregate amount of debt and equity securities, which may be offered from time to time by LSI Logic over the next 24 months.
The Company has decided not to proceed with its plans for a current underwritten offering of up to $287 million of convertible subordinated debt and up to 5,750,000 shares of common stock, as described in its recently filed registration statement.
"Current financial market conditions, especially when contrasted with our improving business fundamentals, make an offering unattractive at this time," said Wilfred J. Corrigan, LSI Logic chairman and chief executive officer. He also added, "The amended registration statement is intended to enhance LSI Logic's flexibility for meeting future capital needs." |
