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 : BEA Systems (BEAS) - Undiscovered Growth Stock -- Ignore unavailable to you. Want to Upgrade?

To: treetopflier who wrote (486)	6/9/1998 6:15:00 PM
From: MDD	Read Replies (1) \| Respond to of 2477

Can someone explain what this means? Do the institutional investors then offer these bonds to private investors? Thanks, Tuesday June 9, 2:03 pm Eastern Time Company Press Release BEA Prices $200 Million Private Offering of 4% Convertible Subordinated Notes SUNNYVALE, Calif.--(BUSINESS WIRE)--June 9, 1998--BEA Systems, Inc. (NASDAQ:BEAS - news) announced today that it has sold $200 million of its 4 percent convertible subordinated notes due 2005 in an offering to qualified institutional investors. The offering is expected to close on June 12, 1998. The Company has granted the initial purchasers a 30-day option to purchase an additional $50 million of notes to cover over-allotments, if any. The notes will be convertible into common stock of the Company at a conversion price of approximately $26.41 per share. The net proceeds of the offering will be added to working capital and used for general corporate purposes. The Company may also use a portion of the net proceeds to fund acquisitions of complimentary businesses, products, or technologies. This announcement is neither an offer to sell nor a solicitation to buy any of these securities. The securities will not be registered under the Securities Act of 1933, as amended (the ''Securities Act''), or any state securities laws, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws.