Canadian Company Press Release
MSD 1999-12-03 (provided courtesy of Canadian Corporate News.)
register to receive future releases by email from CCN
MOSAID announces $16.1 million underwritten private placement of special warrants
OTTAWA, ONTARIO--MOSAID Technologies Incorporated (TSE: MSD) today
announced that it has entered into an underwriting agreement with
a syndicate of underwriters lead by CIBC World Markets Inc. who
have agreed to underwrite the issue and sale of 1.025 million
special warrants on a private placement basis. The offering price
of each special warrant is $15.75. The closing of the special
warrant transaction is expected to take place no later than
December 16, 1999.
Subject to regulatory approval, the special warrants will be
exercisable by the holders thereof, without further payment, into
publicly traded common shares of MOSAID, on the basis of one
common share for each special warrant held, on the 5th day
following the date that MOSAID receives a receipt for a final
prospectus qualifying the common shares issuable upon the exercise
of the special warrants. If a receipt for a final prospectus is
not obtained within 120 days of closing, then each special warrant
will be exercisable, without further payment, into 1.1 common
shares for each special warrant held.
About MOSAID
MOSAID Technologies Incorporated is an independent semiconductor
company with a 25-year history of design innovation. MOSAID's
Semiconductor Division is a fabless provider of high performance
products for the networking market. The Division also designs
complex system-on-a-chip products, application specific memories
and leading-edge standard memories. The Company's Systems Division
is the leading supplier of engineering memory test and analysis
systems for memory device design and quality. MOSAID is based in
Ottawa, Ontario, Canada with operations in Austin, Texas, and
Santa Clara, California and London, UK.
For more information, visit the Company's web site at
www.mosaid.com.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Mosaid Technologies Incorporated
Julia Ukrintz
Communications Specialist
(613) 599-9539 ext. 1228
E-mail: ukrintz@mosaid.com
Web Site: www.mosaid.com
or
High Road Communications
Marisa Marzano
(613) 236-0909
E-mail: mmarzano@highrd.com |
