Photronics Announces Secondary Offering And Convertible Note Offering (PLAB)
Fri. September 11, 2009; Posted: 06:56 AM
Sep 11, 2009 (SmarTrend(R) News Watch via COMTEX) --
PLAB |
Quote |
Chart |
News |
PowerRating -- 9/11/2009-Photronics (NASDAQ:PLAB) announced that it priced its convertible note offering and secondary stock offering today. The company said it agreed to sell 9.64 million shares of common stock at a price of $4.15 per share. Photronics also granted the underwriters an option to purchase an additional 1.45 million shares to cover over allotments, if any. Photronics also priced $50,000,000 aggregate principal amount of senior unsecured convertible notes due 2014. "Photronics intends to use the net proceeds of $85.2 million from the convertible note and common stock offerings to repay a portion of outstanding bank borrowings."
Write to Chip Brian at cbrian@tradethetrend.com
---------------------------------------------------------------------------------------------
SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.
Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup.html
For full details on Photronics Inc (PLAB)
click here. Photronics Inc (PLAB) has Short Term PowerRatings of 7. Details on Photronics Inc (PLAB) Short Term PowerRatings is available at
This Link.
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index