RF Micro Devices Announces $250 Million Private Offering of Convertible Subordinated Notes.Business Editors/High Tech Writers GREENSBORO, N.C.--(BUSINESS WIRE)--Aug. 7, 2000 RF Micro Devices RF Micro Devices (NASDAQ: RFMD) is a manufacturer of integrated circuits, founded in Greensboro, NC, in 1991 by William J. Pratt, Powell T. Seymour and Jerry D. Neal.[1]. , Inc. (Nasdaq: RFMD RFMD RF Micro Devices (NASDAQ) RFMD Rotary Fluid Management Device ) announced today that it intends to offer, subject to market and other conditions, $250 million of Convertible Subordinated Notes due 2005 (plus an additional amount of up to $50 million at the option of the purchasers) in a private placement. The notes will be convertible into the Company's common stock at the option of the holder, at a price to be determined. The offering is expected to close in August 2000. The Company 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). of the anticipated offering for general corporate purposes, including capital expenditures and working capital. In addition, the Company may use a portion of the net proceeds to acquire or invest in complementary businesses, products or technologies if the opportunity arises. This announcement is neither an offer to sell nor a solicitation of an offer to buy any of these securities. The notes and the common stock issuable upon conversion of the notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and are being offered only to qualified institutional buyers in reliance on 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. Unless so registered, the notes and common stock issued upon conversion of the notes 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 the registration requirements of the Securities Act and applicable state securities laws. RF Micro Devices, Inc., an ISO (1) See ISO speed. (2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 9001-certified manufacturer, designs, develops, manufactures and markets proprietary RFICs for wireless communications applications such as cellular and PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. phones, cordless phones, wireless LANs, wireless local loop handsets, industrial radios, wireless security systems and remote meter readers. RF Micro Devices, Inc. is traded on the Nasdaq National Market under the symbol "RFMD." RF Micro Devices(R) and RFMD(TM) are trademarks of RF Micro Devices, Inc. For past press releases and company information, go to http://www.businesswire.com/cnn/rfmd.htm . |
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