Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Mannie who wrote (4542)	9/29/2000 7:28:23 PM
From: Mannie	Respond to of 65232

: Rich who started this subject From: docpaul Friday, Sep 29, 2000 5:57 PM ET Reply # of 958 Chew on THIS one over the weekend.. Friday September 29, 5:51 pm Eastern Time Silicon Storage files to sell 5 mln shares WASHINGTON, Sept 29 (Reuters) - Memory chip maker Silicon Storage Technology Inc. (NasdaqNM:SSTI - news) filed on Friday with the Securities and Exchange Commission to sell 5 million common shares, currently valued at more than $135 million based on Friday's close of $27-3/16 on Nasdaq. Concurrently with the stock offering, the Sunnyvale, Calif.-based company is also selling $150 million in convertible subordinated notes due 2005. It plans to use the net proceeds for working capital and general corporate purposes as well as possible acquisitions. If the 5 million shares are snapped up, Credit Suisse First Boston and Chase H&Q have an option to buy 750,000 more shares. Silicon Storage will have more than 94 million common shares outstanding when the offering is completed. --- Don't forget, that they already have a good bit of cash in the bank.. have a nice weekend, docpaul