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Symmetricom greenshoe exercised, bringing convertible offering to full $120 million
By Jennifer Chiou
New York, June 20 - Symmetricom, Inc. said underwriters exercised in full a $20 million greenshoe on its 3.25% contingent convertible subordinated notes due 2025, lifting the offer to $120 million, according to an 8-K filing with the Securities and Exchange Commission.
Deutsche Bank Securities Inc. and RBC Capital Markets Corp. exercised the option on the notes, which were priced June 2 in a Rule 144A sale. Terms were for a yield of 3.25% with a 26% initial conversion premium.
The San Jose, Calif.-based company and its subsidiaries supply precise timing products to industry, government, utilities and aerospace markets.
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