Conexant Systems Said It Will Publicly Sell 7 Million Common Shares (CNXT)
Wed. September 23, 2009; Posted: 05:39 PM
Sep 23, 2009 (SmarTrend(R) News Watch via COMTEX) --
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PowerRating -- 9/23/2009 - Conexant Systems Inc. (NASDAQ:CNXT) said Wednesday that it will publicly sell 7 million common shares. The company plans to use the net proceeds for general corporate purposes, to repay debt, and to go towards acquisitions. Conexant intends to grant the underwriter a 30-day option to buy to 1.05 additional shares in order to cover over-allotments. Oppenheimer & Co. Inc. is the sole underwriter for the offering.
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