AMIS Announces IPO Pricing of Common Stock

September 23, 2003 by Jeff Shepard

AMI Semiconductor Inc. (AMIS, Pocatello, ID), a leader in the design and manufacture of application-specific integrated circuits, announced the pricing of its initial public offering of common stock, which is expected to begin trading on the Nasdaq National Market under the symbol "AMIS". The company has agreed to sell 25,145,000 shares of its common stock at $20 per share.

Certain selling stockholders have agreed to sell an additional 4,855,000 shares at the same price. The underwriters have been granted the right to purchase up to an additional 4,500,000 shares of common stock if they exercise their over-allotment option in full, of which 2,306,743 shares are being offered by the company and 2,193,257 shares are being offered by selling stockholders.

The net proceeds of the offering, together with the proceeds of a new $125 million senior-term loan, will be used by AMIS to repay the $39.9 million principal balance of its existing term loan; redeem the $70 million principal amount of its senior subordinated notes at a total cost of $77.5 million plus accrued interest; and redeem all of its outstanding redeemable preferred stock.