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.

Technology Stocks : Spansion Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Rink who wrote (3650)	3/31/2008 12:09:26 PM
From: Joe NYC	Respond to of 4590

Rink, Seems the $1.3B loan + 250M revolver that first got reduced to 'up to $650M loan + $100M revolver' finally was reduced to $450M loan + $100M revolver. Does anyone remember Numonyx projected cash position to start the company with? I guess the cash depends on how much of the credit line will be drawn. But, cash in is $150M. Cash out is unclear, because we don't know how much Intel and STM get in cash, how much as notes, and we don't know how much of the loan + revolver was drawn. One way or another, the company will be cash poor, with some debts, and it is unclear if the company will have ability to raise new funds through credit markets. ST will receive 48.6 percent of Numonyx's shares and $364 million through a combination of cash in the range from low double digits to $130 million and long-term subordinated interest-bearing notes. ... Let's say Intel will receive similar amount, for total of say $750M. If the only thing coming in is $150M, than the company starts with net debt of $600M. It seems that nobody was willing to lend Numonyx enough money for Intel and STM to receive all of their money in cash. So it seems that Numonyx will give Intel and STM some notes and some cash... Let's say cash (for both Intel and STM) = $200M, debt $400M. Joe

To: Rink who wrote (3650)	3/31/2008 12:32:47 PM
From: Petz	Respond to of 4590

Rink, also note that the 450M loan to Numonyx is guaranteed by STM and Intel 50-50. Intel 8K - Creation of a Direct Financial Obligation: biz.yahoo.com Petz

To: Rink who wrote (3650)	4/1/2008 12:31:23 PM
From: KeithDust2000	Read Replies (2) \| Respond to of 4590

Rink, Does anyone remember Numonyx projected cash position to start the company with? This article from today says: STMicro had an agreement with Hynix to own up to one-third of the equity and one-third of the output of the plant, but allowed their stake to fall below that level, Numonyx chief executive Brian Harrison told reporters in a conference call. Numonyx now intends to raise its stake back to one-third, he said. Harrison declined to give a figure for how much it would take to raise its stake in the plant, but he said that the company's existing cash of $585 million and the cash it generates from operations "will be sufficient for all of the capital needs we have over the next several years." marketwatch.com