Integrated Silicon Solution, Inc. Announces Final Results of Tender Offer
January 11 2008 - 5:15PM
PR Newswire (US)
SAN JOSE, Calif., Jan. 11 /PRNewswire-FirstCall/ -- Integrated
Silicon Solution, Inc. (NASDAQ:ISSI) (the "Company" or "ISSI"),
today announced the final results of its self tender offer, which
expired on January 3, 2008 at 5:00 p.m. New York City time. ISSI
has accepted for payment 10,000,000 shares of its common stock at a
purchase price of $7.00 per share pursuant to the terms of the
offer, resulting in aggregate payments of $70,000,000. These shares
represented approximately 27.4% of the Company's shares outstanding
as of December 31, 2007. Based on the final count by the depositary
for the tender offer, an aggregate of 24,838,228 shares were
properly tendered and not withdrawn at the purchase price of $7.00
per share, including 1,321,860 shares tendered through notice of
guaranteed delivery. As the aggregate number of shares tendered
exceeds the maximum purchase quantity, the actual shares purchased
will be prorated at the rate of .402605210 The depositary will
promptly pay for the shares accepted for purchase. With completion
of the tender offer, ISSI now has approximately 26,567,924 shares
of common stock outstanding. The dealer manager for the tender
offer is Jefferies & Company, Inc. Georgeson is the information
agent and Mellon Investor Services is the depositary for the tender
offer. Questions relating to the tender offer should be directed to
Georgeson at (800) 843-1285, or (212) 440-9800. About the Company
ISSI is a fabless semiconductor company that designs and markets
high performance integrated circuits for the following key markets:
(i) digital consumer electronics, (ii) networking, (iii) mobile
communications and (iv) automotive electronics. The Company's
primary products are high speed and low power SRAM and low and
medium density DRAM. The Company also designs and markets EEPROM,
SmartCards and is developing selected non-memory products focused
on its key markets. ISSI is headquartered in Silicon Valley with
worldwide offices in Taiwan, China, Europe, Hong Kong, India, Korea
and Singapore. ISSI's web site is at http://www.issi.com/.
DATASOURCE: Integrated Silicon Solution, Inc. CONTACT: Scott
Howarth, President & CFO, Investor Relations, of Integrated
Silicon Solution, Inc., +1-408-969-6600, Web site:
http://www.issi.com/
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