Electro Scientific calls $145 million 4.25% convertibles

By Caroline Salls

Pittsburgh, Feb. 4 - Electro Scientific Industries Inc. said it will redeem all $145 million outstanding of its 4.25% convertible subordinated notes due Dec. 21, 2006 on March 10 at a price of $1,026.20 per $1,000 principal amount of notes.

The notes are convertible into shares of Electro Scientific common stock at $38 per share. The company's stock closed at $19.07 on Friday.

Electro Scientific is a Portland, Ore.-based supplier of manufacturing equipment to increase productivity for customers in the semiconductor, passive components and electronic equipment markets.

© 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.