Conexant Systems swaps shares for $1.73 million of 4% convertibles

By Devika Patel

Knoxville, Tenn., Nov. 13 - Conexant Systems, Inc. exchanged $1.73 million of its 4% convertible subordinated notes due 2026 for 686,187 common shares, according to an 8-K filed Friday with the Securities and Exchange Commission.

The company also paid the investors accrued interest in cash on the exchanged notes.

The holders may require the company to repurchase all or part of their notes on March 1, 2011 at par plus interest.

Conexant is a fabless semiconductor company based in Newport Beach, Calif.

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