Magma Design buys back $2.75 million of 6% convertible senior notes

By Devika Patel

Knoxville, Tenn., July 12 - Magma Design Automation, Inc. repurchased $2.75 million of its 6% convertible senior notes, according to an 8-K filed Monday with the Securities and Exchange Commission.

The company bought back 10.3% of the notes in private transactions, which were funded from the company's working capital.

Magma may purchase additional notes for cash in open market purchases or privately negotiated transactions if attractive pricing can be identified.

The company is a Santa Clara, Calif., maker of semiconductor design software.

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