Press release
Lam Research Corporation Announces Notice of Full Redemption of 2.625% Senior Convertible Notes Due 2041 of Novellus Systems, Inc.
FREMONT, Calif., March 26, 2021 (GLOBE NEWSWIRE) -- Lam Research Corporation (Nasdaq: LRCX) today announced that it has issued a notice of redemption, on
About this update from Lam Research Corporation
[{"type":"text","content":"FREMONT, Calif., March 26, 2021 (GLOBE NEWSWIRE) -- Lam Research Corporation (Nasdaq: LRCX) today announced that it has issued a notice of redemption, on behalf of its subsidiary Novellus Systems, Inc. (“Novellus”), for all of the 2.625% Senior Convertible Notes due 2041 issued by Novellus (CUSIP NO. 670008AD3) (the “Notes”). The Notes will be redeemed on May 21, 2021 (the “Redemption Date”) at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to (but not including) the Redemption Date (the “Redemption Price”). Payment of the Redemption Price and presentation and surrender of Notes will be made through the facilities of The Depository Trust Company. The Notes may be converted at any time before the close of business on the business day immediately preceding the Redemption Date by complying with the provisions of the Notes and the indenture governing the Notes. The conversion rate for the Notes is 31.8009 shares of Lam Research Corporation common stock per $1,000 principal amount of Notes. Lam Research Corporation has instructed The Bank of New York Mellon Trust Company, N.A., as the trustee for the Notes, to distribute the notice of redemption to the holders of the Notes. The details concerning the terms and conditions of the redemption are fully described in the notice of redemption and the indenture governing the Notes. This press release is not a notice of redemption. The redemption will be made solely pursuant to the notice of redemption. The Notes may be converted at any time before the close of business on the business day immediately preceding the Redemption Date by complying with the provisions of the Notes and the indenture governing the Notes. This press release does not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any securities. About Lam Research: Lam Research Corporation is a global supplier of innovative wafer fabrication equipment and services to the semiconductor industry. As a trusted, collaborative partner to the world’s leading semiconductor companies, we combine superior systems engineering capability, technology leadership, and unwavering commitment to customer success to accelerate innovation through enhanced device performance. In fact, today, nearly every advanced chip is built with Lam te...