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Freescale Announces Upsizing and Pricing of Public Offering of Common Shares
2014-02-12 07:00:00| Freescale Press Releases
AUSTIN, Texas--(BUSINESS WIRE)--Feb. 12, 2014-- Freescale Semiconductor, Ltd. (NYSE: FSL) announced today the upsizing and pricing of its previously announced underwritten public offering of 30,000,000 of its common shares, par value $0.01 per share. The size of the offering has been upsized to 35,000,000 common shares and priced at $18.50 per share. The offering is expected to close on February 18, 2014, subject to customary closing conditions. In addition, Freescale has granted the underwriters a 30-day option to purchase up to 5,250,000 additional common shares of Freescale. Freescale intends to contribute all of the net proceeds from the offering to its indirect wholly owned subsidiary and main U.S. operating entity, Freescale Semiconductor, Inc., which intends to use the contributed net proceeds, together with cash on hand, to repay all of its outstanding 10.125% Senior Subordinated Notes due 2016, approximately $276,000,000 aggregate principal amount of its outstanding 8.05% SenFor more information click on title.
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Category:Electronics and Electrical