| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Tenders > Headlines for 2021 > News item |
Inphi reports no tenders under offer for 0.75% convertibles due 2021, 2025
By Wendy Van Sickle
Columbus, Ohio, June 2 – Inphi Corp. said no notes were tendered under its offers to repurchase any and all of its outstanding 0.75% convertible senior notes due 2021 and 0.75% convertible senior notes due 2025, according to a news release.
As of the close of business on June 1, the company reported, $115,000 of the 2021 notes and $3,000 of the 2025 notes remained outstanding.
The tender offers were announced on May 3 and were required to be made as the result of the April 20 consummation of Inphi’s acquisition by Marvell Technology Inc., which constituted a fundamental change and a make-whole fundamental change.
Holders could require Inphi to purchase the notes at par plus accrued interest to June 1.
Holders could also continue to convert their notes during a make-whole convertibility period that runs through the close of business on June 1.
Each 2021 note was convertible into $1,171.65 in cash and 41.2384 Marvell shares, with cash paid in lieu of any fractional share, and each 2025 note was convertible into $567.27 in cash and 19.9662 Marvell shares, with cash paid in lieu of any fractional share.
Holders of 2021 notes who did not convert their notes during the make-whole convertibility period may continue to do so until the close of business on the second scheduled trading day prior to the maturity date. The notes are now convertible into 41.2351 Marvell shares and $1,171.55.
Holders of 2025 notes who did not convert their notes during the make-whole convertibility period may continue to do so until June 30. The notes are now convertible into 18.5977 Marvell shares and $528.39.
Wells Fargo Bank, NA (800 344-5128) is the trustee, paying agent and conversion agent for the tender offer for the 2021 notes.
U.S. Bank NA (651 466-6619) is the trustee, paying agent and conversion agent for the tender offer for the 2025 notes.
Inphi is a Santa Clara, Calif.-based analog and mixed-signal semiconductor components manufacturer.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.