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Technology Stocks : Silicon Graphics, Inc. (SGI) -- Ignore unavailable to you. Want to Upgrade?

To: MJ who wrote (14381)	7/7/2006 11:04:42 AM
From: Don Green	Read Replies (1) \| Respond to of 14451

SGI sees end to Chapter 11 By Reuters news.com.com Story last modified Wed Jul 05 07:03:31 PDT 2006 advertisement Computer maker Silicon Graphics Inc. said on Wednesday that it has amended a reorganization plan filed last month and that it expects to emerge from Chapter 11 bankruptcy protection in September. The amended plan calls for SGI to emerge as a public company with a new credit facility. Total debt would be reduced to $70 million from $345 million, the company said. Notes and debentures would be extinguished in exchange for the new common stock and cash, and rights to invest $50 million in additional shares of the reorganized company. SGI is a computer industry pioneer that has fallen on hard times in recent years amid delays in introducing new technology and increasingly intense competition from larger rivals. The Mountain View, Calif., company is best known for high-powered computers used in creating movie special effects. The machines are also used for pharmaceutical research, petroleum exploration and in the financial industry. Story Copyright © 2006 Reuters Limited. All rights reserved.