Advanced Micro Devices Inc, Sunnyvale, California is calling for redemption all of its $30 convertible exchangeable preferred shares at $50.90 per depositary share – each representing a tenth of a preferred share – plus $0.73 of accrued dividends to the redemption date. Each group of 10 depositary shares will be convertible into 19.873 shares of common – and at the price on February 9 of $31.25 a share, conversion would give the holder shares worth $62.10 for each depositary share.
Arch Communications Group Inc, Westborough, Massachusetts paging systems operator, got its offer of 4.6m shares, 2.7m of them new, away at $18.25 per share, raising about $46m net for the company. Arch intends to use a portion of its net proceeds to fund pending acquisitions and the balance of its net proceeds to repay indebtedness under its revolving credit facility. Prudential Securities Corp, Lehman Brothers and PaineWebber Inc underwrote.
General Magic Inc, Sunnyvale, California got its initial public offering of 5.5m shares, all new, away at $14 a share, raising some $70m net for the developer of object-oriented operating software for handheld computers; underwriters were Goldman Sachs & Co, Smith Barney Inc and Alex Brown & Sons Inc.
Information Storage Devices Inc, San Jose-based maker of single-chip products for speech recording and playback in communication, consumer and industrial markets, got its initial public offering of 2.0m shares, 1.6m of them new, away at $15 a share, and says that it is planning to use the $22m or so net proceeds for buying capital equipment and working capital. Underwriters for the issue are Alex Brown & Sons Inc and Robertson, Stephens & Co.
Integrated Silicon Solution Inc, Sunnyvale developer of high performance static RAM and non-volatile memory chips circuits for personal computers, data communications, telecommunications, instrumentation and consumer products, got its initial public offering of 3.5m shares, 2.3m of them new, away at $13.00 per share. It did not give plans for the $28m or so net proceeds. Underwriters were Donaldson, Lufkin & Jenrette Securities Corp, CS First Boston Corp and SoundView Financial Group Inc.
US Lan Systems Corp, Vienna, Virginia signed a letter of intent with an unidentified investment bank for a firm commitment standby underwriting to complete a $2.5m equity offering to mop up any shares left over after a rights issue to its existing shareholders. The company says it wants to make the offering to provide new working capital.
Periphonics Corp, Bohemia, New York-based maker of interactive speech response systems, has filed with the Securities & Exchange Commission to go public with an initial offer of 2.75m shares, 2.15m of them new, and looks to raise about $26.3m from the offering. The cash will be used to repay debt, redeem common stock from Exxon Corp and for working capital and possible acquisitions. The underwriters are William Blair & Co and Dain Bosworth Inc.
