SANTA ANA, Calif.-Powerwave Technologies Inc. has priced its previously announced private placement of $130 million in convertible subordinated notes due July 2008 at a conversion price of $10.49 per share, with a 1.25-percent annual interest rate.
In addition, initial purchasers of the notes have been granted a 13-day option to purchase up to an additional $20 million principal amount of the notes. Net proceeds will be used to fund the purchase of $25 million of common stock and for possible future acquisitions and general corporate purposes.
