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8-K - 8-K - AEROFLEX HOLDING CORP. | v206396_8k.htm |
AEROFLEX
INCORPORATED ANNOUNCES PURCHASE OF $26 MILLION OF ITS
TERM
LOAN
Plainview, New York – December 22,
2010. Aeroflex Incorporated (“Aeroflex” or the “Company”), a
wholly owned subsidiary of Aeroflex Holding Corp. (“Holding”) (NYSE:ARX),
announced today it has used additional proceeds from Holding’s recent initial
public offering to purchase $26.0 million of its 11.75% Senior Subordinated
Unsecured Term Loans (the “Term Loan”) at a purchase price of $1,110 for each
$1,000 of principal amount of Term Loan, plus accrued interest.
This
purchase, in addition to the amounts purchased under the Company’s tender offer
which closed on December 7, 2010 (the “Tender Offer”), brings the total amount
of Term Loan repurchased to approximately $154.4 million. The Company
also purchased approximately $32.2 million of its 11.75% Senior Notes due 2015
(the “Senior Notes”) in the Tender Offer. After these purchases, the
Company has outstanding approximately $13.6 million of its Term Loan and
approximately $192.8 million of Senior Notes.
This
press release does not constitute an offer to sell, or a solicitation of an
offer to buy, any security. No offer, solicitation or sale is being
made in any jurisdiction in which such an offer, solicitation or sale would be
unlawful.
About
Aeroflex
Aeroflex
Incorporated is a leading global provider of microelectronic components and test
and measurement equipment used by companies in the space, avionics, defense,
commercial wireless communications, medical and other
markets.
Forward-looking
Statements
All
statements other than statements of historical fact included in this press
release regarding Aeroflex’s business strategy and plans and objectives of its
management for future operations are forward-looking statements. When
used in this press release, words such as “anticipate,” “believe,” “estimate,”
“expect,” “intend” and similar expressions, as they relate to Aeroflex or its
management, identify forward-looking statements. Such forward-looking
statements are based on the current beliefs of Aeroflex’s management, as well as
assumptions made by and information currently available to its
management. Actual results could differ materially from those
contemplated by the forward-looking statements as a result of certain factors,
including but not limited to, adverse developments in the global economy;
dependence on growth in customers’ businesses; the ability to remain competitive
in the markets Aeroflex serves; the inability to continue to develop,
manufacture and market innovative, customized products and services that meet
customer requirements for performance and reliability; any failure of suppliers
to provide raw materials and/or properly functioning component parts;
the termination of key contracts, including technology license
agreements, or loss of key customers; the inability to protect intellectual
property; the failure to comply with regulations such as International Traffic
in Arms Regulations and any changes in regulations; the failure to realize
anticipated benefits from completed acquisitions, divestitures or
restructurings, or the possibility that such acquisitions, divestitures or
restructurings could adversely affect Aeroflex; the loss of key employees;
exposure to foreign currency exchange rate risks; and terrorist acts or acts of
war. Such statements reflect the current views of management
with respect to the future and are subject to these and other risks,
uncertainties and assumptions. Aeroflex does not undertake any obligation to
update such forward-looking statements.
For more
information, contact:
Andrew
Kaminsky
Aeroflex
(516)
752-6401
andrew.kaminsky@aeroflex.com