RF Micro Devices Sells $250 Million Of 3.75% Convertible Subordinated Notes.Business Editors/High Tech Writers GREENSBORO, N.C.--(BUSINESS WIRE)--August 8, 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 agreed to privately place $250 million aggregate principal amount of 3.75% convertible subordinated notes due 2005. The notes will be convertible into RFMD (TM) common stock at a conversion price of $90.17 per share. The conversion price will be adjusted to $45.085 per share effective at the opening of business on August 28, 2000 to reflect a 2-for-1 common stock split announced on July 25, 2000. The Company has granted the initial purchasers of the notes a 30-day option to purchase an additional $50 million principal amount of the notes. The placement of the notes is expected to close on August 11, 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 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 the registration requirements of the Securities Act and applicable state 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 wireless communications System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. 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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