Orckit says $95,000 convertibles tendered

New York, Jan. 7 - Orckit Communications Ltd. said $95,000 principal amount of its 5.75% convertible subordinated notes due April 1, 2005 were validly tendered and not withdrawn in its recent dutch auction offer.

The Tel Aviv, Israel telecommunications equipment company will pay $650 per $1,000 principal amount for the notes tendered, the maximum amount it was offering.

The offer expired at midnight ET on Dec. 31.

Orckit had been offering to buy up to $5.0 million principal amount of the convertibles in a modified dutch auction tender offer. The company said it would accept offers to sell the convertibles at between $500 and $650 per $1,000 principal amount.

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