DV Hardware - bringing you the hottest news about processors, graphics cards, Intel, AMD, NVIDIA, hardware and technology!

   Home | News submit | News Archives | Reviews | Articles | Howto's | Advertise
DarkVision Hardware - Daily tech news
January 16, 2018 
Main Menu
News archives

Who's Online
There are currently 80 people online.


Latest Reviews
Arctic BioniX F120 and F140 fans
Jaybird Freedom 2 wireless sport headphones
Ewin Racing Champion gaming chair
Zowie P-TF Rough mousepad
Zowie FK mouse
BitFenix Ronin case
Ozone Rage ST headset
Lamptron FC-10 SE fan controller

Follow us

Lehman bankruptcy bad news for AMD shareholders

Posted on Sunday, December 21 2008 @ 13:19:36 CET by

AMD warned investors on Friday that the bankruptcy of Lehman Brothers means AMD shareholders are no longer protected from dilution when buyers of $2.2 billion of AMD's debt eventually try to cash in their convertible shares:
AMD's debt offering, from April 2007, was a survival move. The company had to raise money to stay afloat as it bled cash from its acquisition of graphics-chip maker ATI Technologies and a bruising price battle with Intel Corp.

AMD said in a regulatory filing Friday that because of Lehman Brothers' bankruptcy, the bank defaulted on the so-called "capped call" transaction and that AMD could no longer count on it to prevent dilution.

The deal was supposed to work like this: AMD paid Lehman Brothers $182 million to scoop up enough AMD shares before 2015, when the convertible senior notes come due, so that it could hand those shares back to AMD and cancel out the new shares that would flood the market when the senior notes were converted into shares of stock.



DV Hardware - Privacy statement
All logos and trademarks are property of their respective owner.
The comments are property of their posters, all the rest © 2002-2017 DM Media Group bvba