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 : The Amateur Traders Corner -- Ignore unavailable to you. Want to Upgrade?

To: Tom Hua who wrote (9078)	5/7/2001 9:11:01 PM
From: Triffin	Respond to of 19633

GSPN .. floats some convertible notes .. Monday May 7, 8:18 pm Eastern Time GlobeSpan sets $130 mln convertible note offering NEW YORK, May 7 (Reuters) - GlobeSpan Inc. (NasdaqNM:GSPN - news) on Monday announced a private placement of $130 million in convertible subordinated notes due 2006 and said that the proceeds of the transaction will be used for working capital, capital expenditures and possible acquisitions. The Red Bank, N.J.-based firm said it had granted the initial purchaser a 30-day option to acquire an additional $20 million in aggregate principal amount of notes to cover over-allotments. The notes are convertible into GlobeSpan's common stock at a price of $26.67 a share but are subject to adjustment ``in certain circumstances.'' The company's stock closed down $1.35 at $20.85 a share. The offering is expected to close May 11. Jim in Ct ..