i2 Technologies Withdraws $200 Million Convertible Debt Offering
08:37 p.m Feb 22, 1999 Eastern
IRVING, Texas, Feb. 22 /PRNewswire/ -- i2 Technologies, Inc. (Nasdaq: ITWO) today
announced their decision not to proceed with the previously announced intention to offer up to
$200 million in convertible subordinated debt, due to the recent softness in equity markets
impacting the conversion price of the offering.
"We did not need the cash immediately so we felt no pressure to consummate the offering," said
Sanjiv Sidhu, CEO of i2 Technologies. "The offering was oversubscribed but technology stocks
weakened after we announced it. We therefore felt it was best not to execute the offering at this
time. We remain committed to our strategy of market leadership and growth."
Cautionary Language
This press release contains forward-looking statements that involve risks and uncertainties,
including statements regarding the Company's future growth or results. Among the important
factors which could cause actual results to differ materially from those in the forward-looking
statements are competition, market demand, technological change, recent acquisitions,
international operations and general economic conditions. For additional discussion of factors,
which could impact the Company's financial results, please refer to the Company's Form 10-K
filed with the SEC on February 3, 1999.
About i2 Technologies:
Founded in 1988, i2 provides electronic business process optimization (eBPO) solutions for
various industries including aerospace and defense; automotive and industrial; chemical, oil and,
gas; consumer goods and retail; high tech and electronics; metals; paper; pharmaceutical;
semiconductor; and textiles, apparel and footwear. i2's eBPO solutions provide necessary
elements for competitive success into the new millennium -- forward visibility, collaboration with
suppliers and customers, and rapid response -- to high-velocity enterprises of all sizes. i2
Technologies' vision is to add $50 billion of value in growth and savings for its customers by the
year 2005. i2 is headquartered in Irving, TX, has over 2,300 employees, and maintains offices
worldwide. For additional information, visit i2 on the web at i2.com.
RHYTHM and i2 are registered trademarks of i2 Technologies, Inc. SOURCE i2 Technologies,
Inc.
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