AMD completes redemption of its $30.00 Convertible Exchangeable Preferred Stock.SUNNYVALE, Calif.--(BUSINESS WIRE)--March 15, 1995--Advanced Micro Devices Inc. (NYSE NYSE See: New York Stock Exchange : AMD (Advanced Micro Devices, Inc., Sunnyvale, CA, www.amd.com) A major manufacturer of semiconductor devices including x86-compatible CPUs, embedded processors, flash memories, programmable logic devices and networking chips. ) today announced that it has completed the previously announced redemption of its $30.00 Convertible Exchangeable Preferred Stock Convertible exchangeable preferred stock Convertible preferred stock that may be exchanged, at the issuer's option, into convertible bonds that have the same conversion features as the convertible preferred stock. (the "Preferred Shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. "). Pursuant to the Deposit Agreement between the Company and The First National Bank of Boston, as Depositary, the Depositary also completed the redemption of the outstanding Depositary Convertible Exchangeable Preferred Shares (the "Depositary Shares"), each of which represented 1/10 of a Preferred Share. Of the 3,448,620 Depositary Shares which were outstanding on Feb. 10, 1995, when the Company called the Preferred Shares for redemption, holders surrendered 3,434,270 for conversion into Common Stock at a ratio of 1.9873 shares of Common Stock for each Depositary Share. As a result, approximately 6,824,700 additional shares of Common Stock have been issued. The Company redeemed the remaining 14,350 Depositary Shares at a price of $50.90 per share, plus $0.73 of accrued and unpaid dividends. On March 14, 1995, the Company sold 28,518 shares of its Common Stock to Donaldson, Lufkin & Jenrette and Salomon Brothers
Salomon Brothers was a Wall Street investment bank. Inc. and used the proceeds to fund the redemption of the 14,350 Depositary Shares which were not surrendered for conversion. Advanced Micro Devices Inc. is the fifth-largest U.S. manufacturer of integrated circuits Integrated circuits Miniature electronic circuits produced within and upon a single semiconductor crystal, usually silicon. Integrated circuits range in complexity from simple logic circuits and amplifiers, about 1/20 in. (1. . Focusing on the personal and networked computing and communications markets, AMD produces microprocessors and related peripherals, memories, programmable logic devices and circuits for telecommunications and networking applications. AMD has sales offices worldwide and has manufacturing facilities in Sunnyvale, Calif.; Austin, Texas; Bangkok, Thailand; Penang, Malaysia; Singapore; Aizu-Wakamatsu, Japan, and Basingstoke, England. CONTACT: Advanced Micro Devices Inc. Chuck Mulloy, 408/749-5481 |
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