This won't help RFMD go higher in the short term, that's for sure.
RF Micro Devices Announces $250 Million Private Offering of Convertible Subordinated Notes
PR Newswire, Monday, August 07, 2000 at 12:36
GREENSBORO, N.C., Aug. 7 /PRNewswire/ -- RF Micro Devices, Inc.
(NASDAQ:RFMD) announced today that it intends to offer, subject to market and
other conditions, $250 million of Convertible Subordinated Notes due 2005
(plus an additional amount of up to $50 million at the option of the
purchasers) in a private placement. The notes will be convertible into the
Company's common stock at the option of the holder, at a price to be
determined. The offering is expected to close in August 2000.
The Company intends to use the net proceeds of the anticipated offering
for general corporate purposes, including capital expenditures and working
capital. In addition, the Company may use a portion of the net proceeds to
acquire or invest in complementary businesses, products or technologies if the
opportunity arises.
This announcement is neither an offer to sell nor a solicitation of an
offer to buy any of these securities.
The notes and the common stock issuable upon conversion of the notes have
not been registered under the Securities Act of 1933, as amended
(the "Securities Act") or any state securities laws, and are being offered
only to qualified institutional buyers in reliance on Rule 144A under the
Securities Act. Unless so registered, the notes and common stock issued upon
conversion of the notes may not be offered or sold in the United States except
pursuant to an exemption from the registration requirements of the Securities
Act and applicable state securities laws.
RF Micro Devices, Inc., an ISO 9001-certified manufacturer, designs,
develops, manufactures and markets proprietary RFICs for wireless
communications applications such as cellular and PCS phones, cordless phones,
wireless LANs, wireless local loop handsets, industrial radios, wireless
security systems and remote meter reader. RF Micro Devices, Inc. is traded on
the Nasdaq National Market under the symbol "RFMD."
RF Micro Devices(R) and RFMD(TM) are trademarks of RF Micro Devices, Inc.
SOURCE RF Micro Devices
-0- 08/07/2000
/CONTACT: Dean Priddy of RF Micro Devices, Inc., 336-664-1233/ |
