Acquicor Technology Inc. Announces Pricing of $145 Million Private Offering of Convertible Senior Notes.NEWPORT BEACH Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif. -- Acquicor Technology Acquicor Technology Inc is a company jointly founded by Gil Amelio, Steve Wozniak and Ellen Hancock, all of whom have worked for Apple Computer. Acquicor is a "blank check" company that will not make or sell any products, but rather seeks acquisitions in the technology sector. Inc. (AMEX AMEX See: American Stock Exchange :AQR AQR Association for Qualitative Research (UK) AQR Airline Quality Rating AQR Anàlisi Quantitativa Regional AQR Assured Quality Routing (iBasis) AQR Applied Quantitative Research ), announced today the pricing of a private placement of $145 million of its 8% convertible senior notes due 2011 to qualified institutional buyers pursuant to Rule 144A Rule 144A A Securities & Exchange Commission rule modifying a two-year holding period requirement on privately placed securities to permit qualified institutional buyers to trade these positions among themselves. under the Securities Act of 1933 (the "Securities Act"). This offering is expected to close on December 15, 2006. In addition, Acquicor Technology Inc. has granted the initial purchasers a 45-day option to buy up to an additional $21.75 million of the notes. The notes are convertible into shares of the company's common stock at an initial conversion price of $7.33 per share. Pending the approval by its stockholders of the merger of its wholly-owned subsidiary with and into Jazz Semiconductor Jazz Semiconductor is a US based pure-play semiconductor wafer foundry that serves customers targeting wireless, optical networking, power management, storage, aerospace/defense and other high-performance applications. , Inc., the gross proceeds of the offering will be placed into an escrow account and upon such approval, the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). would be released to Acquicor to fund the merger consideration and for general corporate purposes. This announcement is neither an offer to sell nor a solicitation to buy any of these notes and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. The notes being offered and the common stock issuable upon exchange of the notes have not been registered under the Securities Act, or any state securities laws, and may not be offered or sold in the United States, absent registration under, or an applicable exemption from, the registration requirements of the Securities Act and applicable state securities laws. About Acquicor Acquicor (AMEX:AQR) is a company formed by Gilbert F. Amelio, Ph.D., Ellen M. Hancock and Steve Wozniak for the purpose of acquiring, through a merger, capital stock exchange, stock purchase, asset acquisition or other similar business combination, one or more domestic and/or foreign operating businesses in the technology, multimedia and networking sectors. Acquicor raised gross proceeds of $172.5 million through its March 2006 initial public offering, and $164.3 million was placed in the trust account pending the completion of a business combination. On September 26, 2006, Acquicor and Jazz Semiconductor, Inc. announced that they have entered into a merger agreement. The merger is expected to be completed in the first quarter of 2007 subject to a number of closing conditions. For more information, please visit http://www.acquicor.com. |
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