Symmetricom to buy back $50.4 million of its 3.25% convertibles at par

By Susanna Moon

Chicago, May 21 - Symmetricom, Inc. agreed to purchase $50.4 million principal amount of its 3.25% contingent convertible subordinated notes due 2025 at par in a privately negotiated deal on May 18, according to an 8-K filing with the Securities and Exchange Commission.

The company will pay $51,115,389.93 for the notes, including accrued interest.

The repurchased notes will be canceled.

Following the purchase, there will be $6.5 million principal amount of the notes outstanding.

The San Jose, Calif.-based company and its subsidiaries supply precise timing products to industry, government, utilities and aerospace markets.

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