Komag Announces Proposed Convertible Note Offering
March 21 2007 - 3:31PM
PR Newswire (US)
SAN JOSE, Calif., March 21 /PRNewswire-FirstCall/ -- Komag,
Incorporated (NASDAQ:KOMG) today announced that it intends to
offer, subject to market and other conditions, approximately $200
million aggregate principal amount of convertible subordinated
notes due 2014 through an offering to qualified institutional
buyers pursuant to Rule 144A under the Securities Act of 1933, as
amended (the "Securities Act"). The interest rate, conversion terms
and offering price are to be determined by negotiations between
Komag and the initial purchasers of the notes. (Photo:
http://www.newscom.com/cgi-bin/prnh/19990816/KOMGLOGO ) Komag also
intends to grant 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. Komag
intends to use the net proceeds from the offering to repurchase
shares of its outstanding common stock 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 of Komag,
+1-408-576-2000, or Web site: http://www.komag.com/
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