Micron Announces Offering of Senior Notes
July 10 2019 - 9:05AM
Micron Technology, Inc. (NASDAQ: MU) announced today an offering of
senior notes, subject to market and other conditions.
Micron intends to use a substantial portion of the net proceeds
of the offering to fund the purchase price for Intel Corporation’s
(“Intel”) noncontrolling interest in IM Flash Technologies, LLC
(“IM Flash”) and IM Flash debt owed to Intel. Micron intends to use
any remaining net proceeds from the offering for general corporate
purposes, which may include capital expenditures, working capital,
and the repayment, repurchase, redemption or other retirement of
its other existing indebtedness.
Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and
Wells Fargo Securities, LLC are the joint book-running managers of
the notes offering.
Micron has filed a registration statement (including a
preliminary prospectus supplement for the notes that forms a part
of the registration statement) with the Securities and Exchange
Commission (the “SEC”) for the offering to which this communication
relates. Before you invest, you should read the preliminary
prospectus supplement included in that registration statement and
other documents Micron has filed with the SEC for more complete
information about Micron and this offering. Copies of these
documents may be obtained at no cost by visiting EDGAR on the SEC
website at www.sec.gov. Alternatively, Goldman Sachs & Co. LLC,
J.P. Morgan Securities LLC and Wells Fargo Securities, LLC can
arrange to send you the prospectus if you request it by calling
Goldman Sachs & Co. LLC toll-free at 1-866-471-2526, J.P.
Morgan Securities LLC at 212-834-4533 or Wells Fargo Securities,
LLC toll-free at 1-800-645-3751.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy the notes described herein, nor
shall there be any sale of these notes in any state or other
jurisdiction in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. The offering of these
notes will be made only by means of a prospectus supplement and the
related prospectus. The notes being offered have not been approved
or disapproved by any regulatory authority, nor has any such
authority passed upon the accuracy or adequacy of the registration
statement, the prospectus contained therein or the prospectus
supplement.
This press release contains forward-looking statements related
to the proposed public offering of notes and Micron’s intention to
use a substantial portion of the net proceeds of the offering to
fund the purchase price for Intel’s noncontrolling interest in IM
Flash and IM Flash debt owed to Intel. Actual events or results may
differ materially from those contained in the forward-looking
statements. Please refer to Micron’s registration statement on Form
S-3 and the preliminary prospectus supplement incorporated by
reference therein, as well as the other documents Micron files from
time to time with the SEC. These documents contain and identify
important factors that could cause the actual results for Micron on
a consolidated basis to differ materially from those contained in
Micron's forward-looking statements. Although Micron believes that
the expectations reflected in the forward-looking statements are
reasonable, Micron cannot guarantee future results, levels of
activity, performance or achievements. Micron is under no duty to
update any of the forward-looking statements after the date of this
press release to conform to actual results.
Micron Media Relations Contact
Erica Rodriguez Pompen
Micron Technology, Inc.
+1 (408) 834-1873
epompen@micron.com
Micron Investor Relations Contact
Farhan Ahmad
Micron Technology, Inc.
+1 (408) 834-1927
farhanahmad@micron.com
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