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MICRON TECHNOLOGY, INC., ANNOUNCES COMPLETION OF A $500 MILLION
CONVERTIBLE NOTE OFFERING
BusinessWire, Thursday, June 19, 1997 at 09:45
BOISE, Idaho--(BUSINESS WIRE)--June 19, 1997--Micron Technology,
Inc., (the "Company") today announced that it has completed an
offering of $500 million aggregate principal amount 7% convertible
Subordinated Notes due July 1, 2004 (the "Notes"). The Notes are
convertible int shares of the Company's Common Stock at $67.44 per
share, representing a conversion premium of 65% over yesterday's
closing price.
Proceeds from the offering are expected to be used for general
corporate purposes, including working capital and capital
expenditures. The Company stated that the primary basis for the
offering was to take advantage of the current favorable conditions in
the capital markets.
The Notes were offered pursuant to an effective Registration
Statement the Company has in place with the Securities and Exchange
Commission in an offering managed by Goldman, Sachs & Co., Robertson,
Stephens & Company and Montgomery Securities.
Micron Technology, Inc., and its subsidiaries manufacture and market
DRAMs, very fast SRAMs, FLASH, other semiconductor memory components,
personal computer systems, remote intelligent communications (RIC)
products, and complex printed circuit board assemblies. Micron's
common stock is traded on the New York Stock Exchange (NYSE) under
the symbol MU.
Note to Editors:
"Micron" is a trademark of the Company.
CONTACT: Kipp Bedard
Micron Technology, Inc.
208/368-4400
Web site URL (http://www.micron.com)
Fax-on-demand: 800-239-0337
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