I'm surprised there's been no discussion of the following news:
]
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Friday April 24, 2:15 pm Eastern Time
Company Press Release
SOURCE: ANTEC Corporation
ANTEC Corporation Announces Proposed $100 Million
Convertible Subordinated Note Offering
ROLLING MEADOWS, Ill., April 24 /PRNewswire/ -- ANTEC Corporation (Nasdaq: ANTC -
news) today announced that it proposes to offer a new issue of $100 million of Convertible
Subordinated Notes due 2003.
The Notes will be convertible into common stock of the Company, at the option of the holder, at a
price to be determined. The Company expects to use the net proceeds from the offering to reduce
the amount of outstanding debt under the Company's revolving credit facility and to repurchase
shares of its Common Stock as previously announced.
The Notes will not have been registered under the Securities Act of 1933, as amended or any state
securities laws, and unless so registered, may not be offered or sold except pursuant to an
exemption from, or in a transaction not subject to, the registration requirements of the Securities
Act and applicable state securities laws.
Accordingly, the Notes will be offered and sold within the United States under Rule 144A only to
''qualified institutional buyers'' and outside the United States in accordance with Regulation S under
the Securities Act.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the Notes. "
Not sure if this will cause alot of dilution of our shares or not.Any thoughts on this?
Regards,Dave |
