Adaptec announces completion of private convertible note offering.MILPITAS, Calif.--(BUSINESS WIRE)--Feb. 4, 1997--Adaptec, Inc. today announced that it has completed the private placement of $230,000,000 of its 4 3/4% Convertible Subordinated Notes Due 2004. The notes are convertible at a conversion price of $51.66 into approximately 4.45 million shares of Adaptec, Inc. common stock. The Notes were issued 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. and Regulation S under the Securities Act of 1933. The Notes are not registered under the Securities Act of 1933, as amended, or under applicable state securities laws, and may not be offered or sold in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. absent registration under federal and applicable state securities laws of available exemptions from such registration requirements. About Adaptec Adaptec provides bandwidth management technologies for organizations building the global information infrastructure. Its high performance I/O (Input/Output) The transfer of data between the CPU and a peripheral device. Every transfer is an output from one device and an input to another. See PC input/output. I/O - Input/Output connectivity, and network products are incorporated into the systems and products of major computer and peripheral manufacturers. Founded in 1981 and headquartered in Milpitas, Adaptec (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADPT ADPT Automated Data Processing/Telecommunications ADPT Adaptec Corporation (stock symbol) ADPT Adaptive Prediction ADPT Auger Depth Profiling Technique ADPT Automated Data Processing Telecommunications ADPT Adapter ) employs 3,000 people worldwide in design, manufacturing, sales, service and distribution. Adaptec's home page is http://www.adaptec.com . CONTACT: Adaptec, Inc. Paul G. Hansen or Christopher G. O'Meara, 408/945-8600 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion