Powerwave buys back $43.7 million 1.875% convertibles at large discount

By Angela McDaniels

Tacoma, Wash., Feb. 5 - Powerwave Technologies, Inc. said it repurchased $43.7 million of its 1.875% convertible subordinated notes due November 2024 during the fourth quarter, resulting in a gain of $32.2 million.

The company paid $10.9 million to purchase the convertibles, according to a company news release.

Powerwave is a Santa Ana, Calif.-based supplier of end-to-end wireless solutions for wireless communications networks.

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