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To: Boplicity who wrote (11629)10/31/2003 9:56:01 AM
From: Boplicity  Read Replies (1) | Respond to of 13815
 
WJ Communications to sell 2 mln shares

October 30, 2003 17:43:56 (ET)

WASHINGTON, Oct 30 (Reuters) - Radio frequency semiconductor company WJ Communications Inc. (WJCI,Trade) filed on Thursday with the Securities and Exchange Commission to sell 2 million common shares and use the net proceeds for general corporate purposes.

Those purposes may include working capital, capital expenditures, repayment of debt, possible acquisitions, investments and repurchase of capital stock.

The San Jose, California-based company said in the filing that two shareholders, Fox Paine Capital Fund and the Watkins Trust, may sell an additional 13 million shares from time to time.

WJ said it will not get any of the proceeds from the sale of those shares.

WJ shares dropped 4.09 percent, or 27 cents, to close at $6.33 on Nasdaq.

First they tell us they are buying back shares, then they file to sell shares. Weird.

Greg