Aether Systems buys back $15 million convertibles

New York, April 2 - Aether Systems, Inc. said it bought back $15 million of its 6% convertible subordinated notes at a discount to face value.

The repurchases were completed in early March 2002.

The Owings Mills, Md. provider of wireless data products and services previously bought back $20 million of its convertibles in May 2001 for $12.3 million.

"Aether is continuing to optimize our collective and unique set of assets to strengthen our market positioning and financial posture with an unyielding concentration on shareholder value. By reducing our convertible debt by another $15 million at a significant discount, we are also amplifying the company's prudent fiscal management and confidence in our actions and outlook," said Aether chairman and chief executive officer Dave Oros in a news release.

Aether Systems originally sold $310.5 million of the convertibles.

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