Conexant Systems exchanges shares for $3.19 million 4% convertibles

By Jennifer Chiou

New York, Dec. 11 - Conexant Systems, Inc. issued 1,314,627 common shares in exchange for $3.19 million of its 4% convertible subordinated notes due 2026, according to an 8-K filed Friday with the Securities and Exchange Commission.

The company also paid the investors accrued interest in cash on the exchanged notes.

The transactions took place between Dec. 7 and Dec. 10.

The holders may require the company to repurchase all or part of their notes on March 1, 2011 at par plus accrued interest.

Conexant is a fabless semiconductor company based in Newport Beach, Calif.

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