Mindspeed Technologies, Inc. (MSPD) said Tuesday that it has priced an offering of $32.0 million aggregate principal amount of its 6.75% convertible senior notes due 2017.
Interest on the Notes will be paid semi-annually at an annual rate of 6.75% per year and will mature on June 15, 2017, unless earlier repurchased, redeemed or converted.
The offering is expected to close on June 19.
The aggregate net proceeds to Mindspeed from the offering of the Notes will be about $30.1 million. The company plans to use the net proceeds from the offering for general corporate purposes, which may include capital expenditures, repayment of debt and working capital.
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