FREMONT, Calif., Jun 28, 2001 (BUSINESS WIRE) -- Asyst Technologies, Inc. (Nasdaq:ASYT) announced today that it has agreed to the private sale of a series of convertible subordinated notes due 2008 to qualified institutional buyers. Asyst anticipates net proceeds of approximately $72.0 million and intends to use those proceeds primarily for general corporate purposes, including working capital. The initial purchasers of the notes will also have a 30-day option to purchase additional notes to cover over-allotments, which, if exercised, would give Asyst additional net proceeds of up to approximately $10.9 million.
The notes will be convertible at a price of $15.18 per share into approximately 4.94 million shares of Asyst common stock, plus approximately 740,000 shares if the over-allotment option is fully exercised. The notes will bear interest at 5.75% per year, payable semiannually and will be redeemable by Asyst at any time on or after July 3, 2004. Asyst has agreed to file a registration statement for the resale of the notes and the shares of the common stock issuable upon conversion of the notes within 90 days after the closing of the offering. The offering is scheduled to close on July 3, 2001.
The notes and the common stock issuable upon conversion have not been registered under the Securities Act of 1933, as amended or applicable state securities laws, and are being offered and sold 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.
This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. This press release is being issued pursuant to and in accordance with Rule 135c under the Securities Act of 1933, as amended. |
