RF Micro Devices Inc. agreed to privately place $250 million aggregate principal amount of 3.75 percent convertible subordinated notes due 2005.The company said the notes will be convertible into RFMD common stock at a conversion price of $90.17 per share. The conversion price will be adjusted to $45.08 per share effective at the opening of business Aug. 28 to reflect a 2-for-1 common stock split announced July 25. RFMD granted the initial purchasers of the notes a 30-day option to purchase an additional $50 million principal amount of the notes. Net proceeds from the placement will be used for general corporate purposes, including capital expenditures and working capital.
Wireless content infrastructure provider Everypath Inc. received $60 million in Series C funding, bringing the company’s total financing to $76 million. Amerindo Investments led the Series C financing, with additional funding provided by a variety of companies including Ignition Corp., E*Trade, Raza Ventures, Texas Pacific Group and Redwood Ventures.
VoiceStream Wireless Corp. completed the exchange of its own registered 10.38 percent senior notes due 2009 for substantially all of Omnipoint Corp.’s outstanding, unregistered 11.63 percent senior notes and 11.63 percent Series A notes. As of the close of business July 28, the end of the tender period, Voice-Stream said it had received tenders from holders of $249.3 million in principal amount of Omnipoint senior notes and $193.4 million in principal amount of Omnipoint Series A notes.
Wireless telecommunications infrastructure provisioning supplier qServe Communications Inc. reported it completed its merger with Valcom Inc. The merger is expected to further qServe’s plans to build a nationwide footprint allowing wireless carriers, along with tower consolidators and owners, to use a single source service provider for turnkey wireless infrastructure provisioning services in multiple locations.
Diversinet Corp. announced a joint marketing agreement with Presideo Inc. to integrate their wireless security solutions. The agreement calls for Diversinet to incorporate its Passport Certificate and Authorization Servers with Presideo’s suite of Internet trust services, forming an end-to-end wireless security solution.
