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Technology Stocks : SILICON STORAGE SSTI Flash Mem

SSTI 7.705

+1.4%

Dec 15 3:59 PM EST

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To: Rich who started this subject	9/29/2000 5:57:12 PM
From: docpaul	Read Replies (1) of 1881

Chew on THIS one over the weekend.. Friday September 29, 5:51 pm Eastern Time Silicon Storage files to sell 5 mln shares WASHINGTON, Sept 29 (Reuters) - Memory chip maker Silicon Storage Technology Inc. (NasdaqNM:SSTI - news) filed on Friday with the Securities and Exchange Commission to sell 5 million common shares, currently valued at more than $135 million based on Friday's close of $27-3/16 on Nasdaq. Concurrently with the stock offering, the Sunnyvale, Calif.-based company is also selling $150 million in convertible subordinated notes due 2005. It plans to use the net proceeds for working capital and general corporate purposes as well as possible acquisitions. If the 5 million shares are snapped up, Credit Suisse First Boston and Chase H&Q have an option to buy 750,000 more shares. Silicon Storage will have more than 94 million common shares outstanding when the offering is completed. --- Don't forget, that they already have a good bit of cash in the bank.. have a nice weekend, docpaul

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