Powerwave buys back $3 million 1.875% convertibles in second quarter

By Susanna Moon

Chicago, Aug. 2 - Powerwave Technologies, Inc. said it repurchased $3 million par value of its 1.875% convertible subordinated notes due 2024 during the second quarter.

Powerwave said the purchase resulted in a gain of $100,000 for the second quarter ended July 4.

The company said it repurchased $20 million par value of the convertibles during the second quarter of 2009, resulting in a gain of $6.4 million.

The issuer is a Santa Ana, Calif.-based supplier of end-to-end wireless services for wireless communications networks.

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