Conexant Spinco Inc. Files Registration Statement
For Initial Public Offering:
Conexant Editorial contact:
Scott Allen
Conexant Systems, Inc.
949-483-6849
Investor Relations Contact:
Mike Cortright
Conexant Systems, Inc.
949-483-2698
Newport Beach , Calif., Nov. 13, 2000 - Conexant Spinco, Inc., a wholly owned subsidiary of Conexant Systems, Inc. (Nasdaq: CNXT), which will be comprised of Conexant's current Network Access Division, today announced that it has filed a registration statement with the Securities and Exchange Commission for an initial
public offering of its Class A common stock. All of the shares are being offered by Conexant Spinco, Inc.
Credit Suisse First Boston and Morgan Stanley Dean Witter are joint book-running managers for the offering. The public offering will be made only by means of a prospectus which, when available, may be obtained by contacting the underwriters:
Credit Suisse First Boston
11 Madison Avenue
Prospectus Department
New York, New York 10010-3629
(212) 325-2580
Morgan Stanley Dean Witter
1585 Broadway
New York, New York 10036
(212) 761-4000
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
This press release does not constitute an offer to sell or the solicitation of an offer to buy. There will not be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Safe Harbor Statement
This press release contains statements relating to future results of Conexant (including certain projections and business trends) that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These risks and uncertainties include, but are not limited to: global and market conditions, including, but not limited to, the cyclical nature of the semiconductor industry and the markets addressed by the company's and its customers' products; demand for and market acceptance of new and existing products; successful development of new products; the timing of new product introductions; the availability and extent of utilization of manufacturing capacity; pricing pressures and other competitive factors; changes in product mix; fluctuations in manufacturing yields; product obsolescence; the ability to develop and implement new technologies and to obtain protection for the related intellectual property; the successful implementation of the company's diversification strategy, including the announced spin off of the Internet infrastructure business; labor relations of the company, its customers and suppliers; and the uncertainties of litigation, as well as other risks and uncertainties, including but not limited to those detailed from time to time in the company's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise. Other brands and names contained in this release are the property of their respective owners.
About Conexant Systems, Inc.
With revenues of $2.1 billion in fiscal 2000, Conexant is the world's largest independent company focused exclusively on providing semiconductor solutions for communications electronics. With more than 30 years of experience in developing communications technology, the company draws upon its expertise in mixed-signal processing to deliver integrated systems and semiconductor products for a broad range of communications applications. These products facilitate communications worldwide through wireline voice and data communications networks, cordless and cellular wireless telephony systems, personal imaging devices and equipment, and emerging cable and wireless broadband communications networks. The company organizes its activities into two business areas: Internet infrastructure, which consists of the Network Access Division, and personal networking, comprised of the Digital Infotainment, Personal Imaging, Wireless Communications and Personal Computing divisions. Conexant is a member of the S&P 500 and Nasdaq-100 Indices. For more information, visit Conexant at www.conexant.com. |
