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发帖数: 2252 | 1 Powerwave Technologies Announces Offering of $100 Million of Senior
Subordinated Convertible Notes
9 hours 3 minutes ago - BIZ via Comtex
BusinessWire--Retires $42.6 million of 1.875% convertible notes due November
2011
--Repurchases 11.2 million shares of common stock for $25 million
Powerwave Technologies, Inc. (Nasdaq: PWAV) today announced that it has
entered into a purchase agreement pursuant to which it will issue an
aggregate of $100 million of 2.75% Convertible Senior Subordinated Notes due
2041 (the "New Notes") in a private placement for resale to qualified
institutional buyers meeting the criteria contained in Rule 144A under the
Securities Act of 1933, as amended (the "Securities Act"). Powerwave has
agreed to repurchase $42.6 million in aggregate principal amount of its
outstanding 1.875% Convertible Subordinated Notes due 2024 (the "1.875%
Notes"), leaving approximately $15.3 million in principal amount of its 1.
875% Notes outstanding.
Powerwave is also using approximately $25 million of the net proceeds from
the offering to repurchase an aggregate of 11.2 million shares of its common
stock. Powerwave expects to use the remaining net proceeds from the
offering to repurchase or pay down additional indebtedness, and for general
corporate and working capital purposes.
Description of New Notes |
