intresting info on shares and warrants that got exercised. intc-10K
ntel's 1998 Step-Up Warrants expired on March 14, 1998. Between December 27,
1997 and March 14, 1998, 78 million Warrants were exercised at $20.875 per
Warrant, and the Company received proceeds of approximately $1.6 billion.
Between December 27, 1997 and March 25, 1998, Intel repurchased 22 million
shares of Common Stock under the Company's authorized stock repurchase program
at a cost of $1.8 billion, including 1.7 million shares for $127 million upon
the exercise of outstanding put warrants. During the same period, 9.8 million
previously outstanding put warrants expired unexercised. As of March 25, 1998,
the Company had the potential obligation to repurchase 14.8 million shares of
Common Stock at an aggregate price of $1.2 billion under outstanding put
warrants. These put warrants expire on various dates between May 1998 and
August 1998 and have exercise prices ranging from $69 to $95 per share, with
an average exercise price of $80. On March 25, 1998, the Company's Board of
Directors approved an increase of up to 100 million additional shares in the
Company's repurchase program. This increase brings the total authorization to
380 million shares. After allowing for shares to cover outstanding put
warrants, 129.8 million shares remain available for repurchase under the
repurchase authorization as of March 25, 1998. |
