Can someone explain what this means? Do the institutional investors
then offer these bonds to private investors?
Thanks,
Tuesday June 9, 2:03 pm Eastern Time
Company Press Release
BEA Prices $200 Million Private Offering of 4% Convertible Subordinated
Notes
SUNNYVALE, Calif.--(BUSINESS WIRE)--June 9, 1998--BEA Systems, Inc. (NASDAQ:BEAS - news) announced
today that it has sold $200 million of its 4 percent convertible subordinated notes due 2005 in an offering to qualified
institutional investors.
The offering is expected to close on June 12, 1998.
The Company has granted the initial purchasers a 30-day option to purchase an additional $50 million of notes to
cover over-allotments, if any. The notes will be convertible into common stock of the Company at a conversion price
of approximately $26.41 per share.
The net proceeds of the offering will be added to working capital and used for general corporate purposes. The
Company may also use a portion of the net proceeds to fund acquisitions of complimentary businesses, products, or
technologies.
This announcement is neither an offer to sell nor a solicitation to buy any of these securities. The securities will not
be registered under the Securities Act of 1933, as amended (the ''Securities Act''), or any state securities laws, and
unless so registered, may not be offered or sold in the United States 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.
|
