California Micro Devices Completes $5.2 Million Private Placement.Business Editors MILPITAS, Calif.--(BUSINESS WIRE)--Nov. 26, 2002 California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Micro Devices Corporation (Nasdaq:CAMD CAMD Center for Advanced Microstructures and Devices CAMD Clean Air Markets Division (US EPA) CAMD Computer-Assisted Molecular Design CAMD Chemical Agent and Munitions Disposal CAMD Carl Asmis Memorial Dressage Association ) announced today that it has received the approximately $700,000 of previously committed additional investment completing the private placement the company disclosed yesterday. Including the additional funds, the total transaction involved the sale of approximately 1.52 million common shares at $3.40 per share primarily to institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. . Investors also received approximately 380,000 three-year warrants to purchase common stock with an exercise price of $4.36. As noted in the company's release yesterday, several CAMD directors participated in the transaction whose proceeds will be used for working capital and to reduce short term debt. Needham and Company Inc. and Adams, Harkness & Hill Inc. served as placement agents for the offering. California Micro Devices Corporation California Micro Devices Corporation is a leading supplier of application-specific analog semiconductor products for the mobile, computing computing - computer , and high-brightness LED lighting markets. Key products include application-specific integrated passive (ASIP ASIP American Society for Investigative Pathology ASIP Application Specific Instruction Set Processor ASIP Aircraft Structural Integrity Program ASIP Arrow System Improvement Program (US DoD) ASIP Airborne Signals Intelligence Payload (TM)) devices and power management ICs as well as silicon submounts for high brightness LEDs. Detailed corporate and product information may be accessed at www.calmicro.com. |
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