Kulicke & Soffa further extends tender offer for 1% convertibles

By Angela McDaniels

Tacoma, Wash., Feb. 24 - Kulicke & Soffa Industries, Inc. said it extended the tender offer for its $62 million outstanding 1% convertible subordinated notes due 2010 to 5 p.m. ET on Feb. 27 from Feb. 24.

The offer began on Jan. 6 and was previously extended to Feb. 24 from Feb. 9.

As of the close of business on Feb. 24, $5.54 million of the convertibles had been tendered. The figure is unchanged from Feb. 9.

On Feb. 10, the company increased the purchase price to $780 per $1,000 principal amount of convertibles plus accrued interest up to but excluding the payment date. Holders were originally slated to receive $720 per convertible plus interest.

Convertibles purchased under the offer will be canceled.

Oppenheimer & Co. Inc. is the dealer manager for the offer, Bank of New York Mellon is the depositary, and Laurel Hill Advisory Group, LLC (917 338-3181 or 888 742-1305) is the information agent.

Kulicke & Soffa is a Fort Washington, Pa.-based maker of semiconductor assembly equipment.

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