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ChipMOS offers sweetener to induce conversion of 1.75% convertibles
By Angela McDaniels
Seattle, Oct. 18 - ChipMOS Technologies (Bermuda) Ltd. offered a cash payment on Tuesday to holders of its 1.75% convertible senior notes due 2009 who agreed to convert, according to a CB filing with the Securities and Exchange Commission.
The offer ended at 8 a.m. ET on Wednesday.
Under the offer, noteholders who converted will receive a cash payment equal to 7% of the principal amount of notes converted, minus 7% of any cash payment to be received in lieu of fractional common shares.
The conversion price under the offer was $6.28 per common share. The company's shares closed at $6.13 on Tuesday (Nasdaq: IMOS).
Questions related to the offer can be directed to the company at (886-6) 507-7712 or (886-3) 571-6088 (ext. 8311).
ChipMOS is a Hsinchu, Taiwan-based provider of semiconductor test and assembly services.
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