Conexant Systems issues shares for $2.4 million of 4% convertibles

By Jennifer Chiou

New York, Nov. 20 - Conexant Systems, Inc. exchanged $2.4 million of its 4% convertible subordinated notes due 2026 for 942,944 common shares between Nov. 16 and Nov. 19, according to an 8-K filed Friday with the Securities and Exchange Commission.

The company also paid accrued interest.

On Nov. 13, the company said it had issued 686,187 shares for $1.73 million of the notes.

As already reported, 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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