ARRIS Group, Inc. Announces Proposed Offering of Notes
November 06 2006 - 7:00AM
PR Newswire (US)
SUWANEE, Ga., Nov. 6 /PRNewswire-FirstCall/ -- ARRIS (NASDAQ:ARRS)
announced today that, subject to market conditions and other
factors, it plans to offer $225 million of convertible senior notes
due 2026 (the "notes") through a public offering. As part of the
offering, the Company will grant the underwriters a 30-day option,
solely to cover over-allotments, to purchase up to an additional
$33.75 million of the notes. The interest rate and other terms of
the notes will be determined by negotiations between the Company
and the underwriters. The Company announced that it expects to use
the net proceeds from the offering of the notes for general
corporate purposes, including the funding of future acquisitions.
UBS Investment Bank and Deutsche Bank Securities Inc. will act as
joint book-running managers for the offering of the notes. The
offering is being made pursuant to the Company's effective shelf
registration statement filed with the Securities and Exchange
Commission on November 6, 2006 by means of a separate prospectus
supplement. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any
sale of, any securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state. A copy
of the prospectus supplement relating to the offering may be
obtained by contacting UBS Investment Bank, Prospectus Department,
299 Park Avenue, New York, NY 10171 Attn: Prospectus Department, or
by telephone at 212-821-3884 or Deutsche Bank Securities Inc., c/o
Prospectus Department, 60 Wall Street, Floor 2, New York, New York
10005 or by telephone toll free at 1-800-503-4611. ARRIS provides
broadband local access networks with innovative next generation
high-speed data and telephony systems for the delivery of voice,
video and data to the home and business. ARRIS' complete solutions
enhance the reliability and value of converged services from the
network to the subscriber. Headquartered in Suwanee, Georgia, USA,
ARRIS has design, engineering, distribution, service and sales
office locations throughout the world. Forward-looking statements:
Statements made in this press release, including those related to
the Company's plans to issue the notes and its application of the
proceeds from the notes, are forward-looking statements. These
statements involve risks and uncertainties that may cause actual
results to differ materially from those set forth in these
statements. Among other things, (i) market interest in the notes
may be greater or less than expected, and (ii) the final use of
proceeds will be dependent upon the Company's specific cash needs.
These factors are not intended to be an all-encompassing list of
risks and uncertainties that may affect the Company's business.
Additional information regarding these and other factors can be
found in ARRIS' reports filed with the Securities and Exchange
Commission, including its Form 10-Q for the quarter ended September
30, 2006. In providing forward-looking statements, the Company
expressly disclaims any obligation to update publicly or otherwise
these statements, whether as a result of new information, future
events or otherwise. DATASOURCE: ARRIS CONTACT: Jim Bauer, ARRIS
Investor Relations, +1-678-473-2647, Web site:
http://www.arrisi.com/
Copyright
ARRIS International plc (NASDAQ:ARRS)
Historical Stock Chart
From Jun 2024 to Jul 2024
ARRIS International plc (NASDAQ:ARRS)
Historical Stock Chart
From Jul 2023 to Jul 2024