Atmel Calls for Redemption of Convertible Subordinated Guaranteed Step-Up Notes.Business Editors/High-Tech Writers SAN JOSE, Calif.--(BUSINESS WIRE)--May 12, 2000 Atmel S.A., a wholly-owned subsidiary of Atmel Corporation (Nasdaq:ATML ATML Automatic Test Markup Language ATML Automated Test Markup Language ), has called for redemption on June 2, 2000, the Company's 3.25% Convertible Subordinated Guaranteed Step-Up Notes due 2002 (the "Notes"). The aggregate principal amount outstanding of the Notes is approximately $150 million. Prior to 5:00 p.m., Eastern Daylight Time, on June 1, 2000, holders may convert their Notes into shares of Atmel Corporation ("Atmel") common stock at a price of $17.75 per share, or approximately 56.338 shares of Atmel common stock per $1,000 principal amount of Notes. Cash will be paid in lieu of fractional shares. On May 12, 2000, the last reported sale price of Atmel common stock on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. was $39.375 per share. Alternatively, holders may have their Notes redeemed at a total redemption price of $1,080.40 per $1,000 principal amount of Notes, consisting of $1,080.16 principal amount plus accrued interest of $0.24. Any Notes not converted on or before 5:00 p.m., Eastern Time, on June 1, 2000, will be automatically redeemed on June 2, 2000, after which interest will cease to accrue. So long as the market price of the Atmel common stock is at least approximately $19.18 per share, a holder of the Notes who converts will receive Atmel common stock with a market value (plus cash in lieu Cash In Lieu (CIL) In a typical exchange offer, "old" shares of the target company are exchanged for "new shares". of any fractional shares) greater than the amount of cash the holder would otherwise be entitled to receive upon redemption. A Notice of Full Redemption and a Letter of Transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. (which may be used to surrender Notes for conversion or redemption) are being mailed to all registered holders of the Notes. Copies of the Notice of Full Redemption and the form of the Letter of Transmittal may be obtained from State Street Bank and Trust Company The State Street Bank and Trust Company is a bank. It was a subsidiary of the State Street Corporation, until it sold off the retail banking portion of this unit in 1999 to Citizens Financial Group (a subsidiary of the Royal Bank of Scotland), of Providence, RI. of California, N.A. by calling Paula Oswald at (213) 362-7338. Founded in 1984, Atmel Corporation is headquartered in San Jose, California San Jose (IPA: /ˌsænhoʊˈzeɪ/) is the third-largest city in California, and the tenth-largest in the United States. It is the county seat of Santa Clara County. with principal manufacturing facilities in Colorado Springs, Colorado The City of Colorado Springs is the second most populous city (after Denver) in the state of Colorado and the 48th most populous city in the United States.[4] The city is the county seat of El Paso County. , Nantes and Rousset and Grenoble, France and Heilbronn, Germany. Atmel designs, manufactures and markets on a worldwide basis advanced logic, mixed-signal, nonvolatile memory, and RF semiconductors. Atmel is also a leading provider of system-level integration semiconductor solutions using advanced CMOS (Complementary Metal Oxide Semiconductor) Pronounced "c-moss." The most widely used integrated circuit design. It is found in almost every electronic product from handheld devices to mainframes. , BiCMOS, BiPolar and SiGe process technologies. Atmel product and financial information can be retrieved from its Fax-on Demand service. In North America call 1(800) 292-8635. Internationally from a fax phone, dial 1(408) 441-0732. Requests may be sent via e-mail to literature@atmel.com or by visiting Atmel's website at http://www.atmel.com. Note to Editors: Atmel, the Atmel logo and combinations thereof are trademarks of Atmel Corporation |
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