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Technology Stocks : Vitesse Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: JK who wrote (4356)	9/17/2004 2:18:02 AM
From: The Ox	Respond to of 4710

Vitesse Semiconductor Corporation Prices Private Offering of 1.50% Convertible Subordinated Debentures due 2024 Thursday September 16, 7:31 pm ET CAMARILLO, Calif.--(BUSINESS WIRE)--Sept. 16, 2004--Vitesse Semiconductor Corporation (Nasdaq:VTSS - News) today announced the pricing of $90 million aggregate principal amount of 1.50% Convertible Subordinated Debentures due 2024 in a private placement to qualified institutional buyers pursuant to an exemption from the registration requirements of the Securities Act of 1933, as amended. The Debentures will bear interest at a rate of 1.50% per annum and be convertible into shares of Vitesse's common stock at an initial conversion price of $3.92 per share, subject to adjustment (equivalent to a conversion rate of approximately 255.1020 shares of common stock per $1,000 principal amount of Debentures and a conversion premium of approximately 35% to the last reported sale price of $2.90 per share on September 16, 2004). The Debentures will be redeemable by Vitesse beginning October 1, 2007 if its stock price is at least 170% of the conversion price, or approximately $6.67 per share, for 20 trading days within any 30 consecutive trading day period, and will also be redeemable by Vitesse beginning October 1, 2009 without being subject to such condition. In addition, investors will have the right to require Vitesse to repurchase the Debentures on October 1 of 2009, 2014 and 2019 and upon the occurrence of certain events. Vitesse has granted the initial purchaser of the Debentures an option to purchase up to an additional $10 million aggregate principal amount of the Debentures. The offering is expected to close on September 22, 2004. Vitesse intends to use approximately $20 million of the net proceeds of this offering to fund a concurrent repurchase of approximately 6.9 million shares of its common stock, and the remainder of the net proceeds for general corporate purposes, including product development, sales and marketing, capital expenditures and potential strategic acquisitions. In addition, Vitesse may use a portion of the proceeds to repurchase or repay its existing indebtedness.

To: JK who wrote (4356)	6/24/2005 9:33:52 AM
From: JK	Respond to of 4710

Vitesse Semiconductor Corp. VTSS (BusinessWire) VTSS today announced that two industry veterans of Ethernet systems and switch IC marketing have joined its Ethernet Products Division. Mr. Richard Martin enters the newly created position of director of strategic marketing and is responsible for identifying and evaluating emerging Ethernet applications and business opportunities. Mr. Claus Stetter serves as the worldwide product line director for Vitesse's award winning Ethernet Switch IC products. Both Ethernet marketing executives report to Martyn Humphries, vice president and general manager of the division. ... Successful and Experienced in Ethernet Richard Martin is a senior-level business executive with a track record of establishing leadership market positions for major technology companies. Prior to joining Vitesse, Mr. Martin worked at Broadcom as the director of product marketing for the successful StrataSwitch, RoboSwitch and StrataXGS product lines. He is credited with securing key design wins, defining and implementing winning strategic marketing plans, and defining next-generation roadmaps. He has also served as director of product marketing for Cisco Systems' Catalyst Switch family (Catalyst 2900 XL, Catalyst 3500 XL and Catalyst 1900). In this role, he led his team to achieve the number one market share position and ramped the product line to a $2 billion dollar run rate. Mr. Martin's other technology experience includes management roles at Apple Computer, Bell Canada and Nortel Networks. He graduated with honors from Memorial University of Newfoundland, Canada, with a bachelor's degree in computer science, and he holds an MBA from Queen's University, Canada. Claus Stetter has extensive experience defining product requirements, managing international teams and exceeding revenue goals for semiconductors for Enterprise LAN, SMB and SOHO markets. Formerly a senior product line manager for Broadcom, Mr. Stetter was responsible for the Robo-HS Gigabit Ethernet switch product line and for a family of Faster Ethernet Switch and PHY devices. He joined Broadcom through the Allayer Communications acquisition, where he introduced the world's first 12 Gigabit Ethernet plus 10 Gigabit Ethernet single-chip switch IC. He has also worked in Networking IC marketing roles for Infineon Technologies, Fujitsu Microelectronics in San Jose, Calif., and in Germany. Mr. Stetter holds a master's degree in electrical engineering from the University of Reutlingen, Germany. Contact Information: Vitesse Semiconductor Corp. Ronda Grech, 805-445-2255 rondag@vitesse.com © 2005 BusinessWire