CPI Holdco, Inc. Announces Proposed Private Placement of Floating Rate Senior Notes.PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif. -- CPI (1) (Characters Per Inch) The measurement of the density of characters per inch on tape or paper. A printer's CPI button switches character pitch. (2) (Counts Per I Holdco, Inc., the parent company of Communications & Powers Industries, Inc., announced today it intends to raise $80.0 million of gross proceeds through a private placement offering of Floating Rate Senior Notes due 2015. CPI Holdco intends to use 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). from the offering to make payments to its stockholders and optionholders and/or to fund repurchases of its equity interests. The notes will not be guaranteed by any of CPI Holdco's subsidiaries. The notes will be offered within 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. only to qualified institutional buyers In law, a Qualified Institutional Buyer is a purchaser of securities that is financially sophisticated and is legally recognized by security market regulators to need less protection from sellers than most members of the public. 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 and to persons in offshore transactions in reliance on Regulation S under the Securities Act. This news release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which it would be unlawful. Communications & Power Industries, Inc. is a world leader in the development, manufacture and distribution of products used to generate, amplify and transmit high-power/high-frequency microwave and radio frequency signals. End-use applications of these systems include the transmission of radar signals for navigation and location; transmission of false signals for electronic countermeasures Noun 1. electronic countermeasures - electronic warfare undertaken to prevent or reduce an enemy's effective use of the electromagnetic spectrum ECM ; transmission and amplification of voice, data and video signals for broadcasting, internet and other types of communications; providing power and control for medical diagnostic imaging; generating microwave energy for radiation therapy in the treatment of cancer; and for various industrial and scientific applications. CPI Holdco, Inc. is the sole stockholder of Communications & Power Industries, Inc. CPI Holdco, Inc. is a privately-held portfolio company of The Cypress Group. The Cypress Group is a private equity investment firm managing more than $3.5 billion of capital. Cypress has an extensive track record of making growth-oriented investments in targeted industry sectors and building equity value alongside proven management teams. (C) 2005 Communications & Power Industries. All rights reserved. |
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