GREENSBORO, N.C.-RF Micro Devices Inc. announced the pricing of its offering of $200 million of its 1.5-percent convertible subordinated notes due 2010. The notes will be convertible into common stock at a rate of 131.0685 shares per $1,000 principal amount of notes, or approximately $7.63 per share.
Initial purchases of the notes also have an overallotment option to purchase an additional $30 million principal amount of the notes. Proceeds from the offering, which is expected to close July 1, will be used for working capital, general corporate purposes and to retire certain long-term debt. RFMD has already repurchased $150 million of its outstanding 3.75-percent convertible subordinated notes due 2005.
