Newport retires $38.7 million of its 2.5% convertibles due 2012

By Tali David

Minneapolis, Dec. 13 - Newport Corp. announced that it retired $38.7 million of its 2.5% convertible subordinated notes due Feb. 15, 2012, according to an 8-K filing with the Securities and Exchange Commission.

In total, the company paid $38.9 million plus accrued interest.

Newport is based in Irvine, Calif., and makes advanced technology products and systems for use in the scientific research, aerospace, defense/security, microelectronics, life and health sciences and precision industrial manufacturing markets.

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