Komag Prices $220 Million Private Placement of 2.125% Convertible Subordinated Notes Due 2014
23 3월 2007 - 9:44AM
PR Newswire (US)
SAN JOSE, Calif., March 22 /PRNewswire-FirstCall/ -- Komag,
Incorporated (NASDAQ:KOMG) today announced the pricing of its
offering of $220 million aggregate principal amount of 2.125%
Convertible Subordinated Notes due 2014 to qualified institutional
buyers pursuant to Rule 144A under the Securities Act of 1933, as
amended (the "Securities Act"). The sale of the notes is expected
to close on March 28, 2007, subject to satisfaction of customary
closing conditions. Komag also granted the initial purchasers of
the notes a nine-day option to purchase up to an additional $30
million aggregate principal amount of notes, solely to cover
over-allotments. (Logo:
http://www.newscom.com/cgi-bin/prnh/19990816/KOMGLOGO) The notes
will pay interest semiannually at a rate of 2.125% per year and
will be subordinated to all present and future senior indebtedness
of Komag, except that the notes will be pari passu with Komag's
existing 2.0% Convertible Subordinated Notes due 2024. The notes
will be convertible into shares of Komag's common stock based upon
a base conversion rate of 17.2414 shares of common stock per $1,000
principal amount of the notes (which is equivalent to a base
conversion price of approximately $58.00 per share), subject to
adjustment upon the occurrence of certain events. This represents a
conversion premium of approximately 77.0% relative to the last
quoted bid price of Komag's common stock on the Nasdaq Global
Select Market on March 22, 2007. In addition, if at the time of
conversion the applicable price of Komag's common stock exceeds the
base conversion price, holders will receive up to an additional
13.2836 shares of common stock per $1,000 principal amount of the
notes, as determined pursuant to a specified formula. Komag intends
to use the net proceeds from the offering to pay the approximately
$125 million purchase price for 3,815,000 shares of its outstanding
common stock it has agreed to purchase in connection with this
offering and to pay the redemption price of its 2.0% Convertible
Subordinated Notes due 2024 to the extent not converted. Komag
intends to use the remaining proceeds of this offering for general
corporate purposes, which may include additional stock repurchases.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of these securities and shall
not constitute an offer, solicitation or sale in any jurisdiction
in which such offer, solicitation or sale is unlawful. The notes
and the shares of common stock issuable upon conversion of the
notes have not been registered under the Securities Act or any
state securities laws and, unless so registered, may not be offered
or sold in the United States except pursuant to an exemption from
the registration requirements of the Securities Act and applicable
state securities laws.
http://www.newscom.com/cgi-bin/prnh/19990816/KOMGLOGO
http://photoarchive.ap.org/ DATASOURCE: Komag, Incorporated
CONTACT: Kathy Bayless, Chief Financial Officer, +1-408-576-2000,
or Web site: http://www.komag.com/
Copyright
Komag (NASDAQ:KOMG)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Komag (NASDAQ:KOMG)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024
Komag (MM) (나스닥)의 실시간 뉴스: 최근 기사 0
More Komag (MM) News Articles