(Source: Business Wire)
Conexant Systems, Inc. (NASDAQ: CNXT) today announced the results
and proration of its cash tender offer to purchase up to $73 million
aggregate principal amount of its floating rate senior secured notes due
November 2010. The offer commenced on Aug. 26, 2009, and expired at 5:00
p.m. Eastern time on Sept. 24, 2009. In a separate transaction, the
company announced that it completed the purchase of an additional $7
million of its floating rate senior secured notes.
An aggregate principal amount of $133.086 million of the notes was
tendered in the offer. The aggregate principal amount of the notes to be
purchased in the offer was not to exceed $73 million. As such, the
company accepted for purchase approximately 54.9 percent of the notes
validly tendered, and not validly withdrawn pursuant to the offer on a
pro rata basis. Notes not accepted for purchase will be promptly
returned to the tendering holder or, if tendered through the facilities
of the Depository Trust Company (DTC), credited to the relevant account
at DTC, in accordance with their procedures. The settlement date for the
tender is Sept. 30, 2009.
About Conexant
Conexant's comprehensive portfolio of innovative semiconductor solutions
includes products for imaging, audio, video and embedded-modem
applications. Conexant is a fabless semiconductor company headquartered
in Newport Beach, Calif. To learn more, please visit www.conexant.com.
A service of YellowBrix, Inc.
