NEW YORK-In two separate moves in the market, Lucent Technologies Inc. announced plans to sell, while Motorola Inc. bought.
Lucent said it filed to sell up to $1.75 billion of common stock, preferred stock, debt, warrants, stock purchase contracts and units.
The wireless vendor said the net proceeds will service its debt and cover its preferred stock dividends or redemptions. The money will also be used for the repurchase of preferred stock or debt, working capital, capital expenditures and general corporate purposes.
Motorola said it has concluded the purchase of its Liquid Yield Option Notes with cash at the maturity of approximately $98 million. It has $4.4 million outstanding.
The aggregate price for all the LYONS was about $78.4 million, said Motorola.
