BEA Issues Additional $50 Million of 4% Convertible Subordinated Notes in Private Offering.SUNNYVALE, Calif.--(BUSINESS WIRE)--July 7, 1998--BEA Systems, Inc. (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 :BEAS) announced today that the initial purchasers in its recent $200 million four percent Convertible Subordinated Notes have exercised an option to purchase an additional $50 million of Notes. On June 9, BEA BEA - Basic programming Environment for interactive-graphical Applications, from Siemens-Nixdorf. announced that it had sold $200 million of four percent Convertible Subordinated Notes in an offering to qualified institutional investors qualified institutional investor An institutional investor that is permitted by the Securities and Exchange Commission to trade private placement securities without registering the securities with the SEC. and that it had granted the initial purchasers of the Notes an option to purchase an additional $50 million of Notes to cover over-allotments. Closing of the issuance of the additional $50 million of Notes pursuant to exercise of that option took place today. The Notes are convertible into BEA common stock at a conversion price of approximately $26.41 per share. 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). of the offering have been added to working capital and will be used for general corporate purposes. The Company may also use a portion of the net proceeds to fund acquisitions of complementary businesses, products or technologies. This announcement is neither an offer to sell nor a solicitation of an offer 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 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. 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. Note to Editors: BEA is a registered trademark of BEA Systems BEA Systems, Inc. (NASDAQ: BEAS) is one of the major companies developing enterprise infrastructure software. BEA makes middleware, products that help software run on top of databases. , Inc.
CONTACT: BEA SYSTEMS, INC.
Steve Brown, 408/743-4031
Jay Fry, 408/743-4017
jay.fry@beasys.com
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