MILPITAS, Calif., March 4, 2010 (GLOBE NEWSWIRE) -- LTX-Credence Corporation (Nasdaq:LTXC) today announced that the underwriters for the recently announced public offering of the company's common stock have exercised in full their option to purchase 2,325,000 additional shares of common stock. The 2,325,000 additional shares were sold at the public offering price of $2.85 per share and will bring the total number of shares to be issued by the company in the offering to 17,825,000. The full exercise of the option will bring the company's net proceeds from the offering to approximately $47.5 million, after deducting underwriting discounts and commissions and estimated offering expenses. Barclays Capital is acting as the sole book-runner for the offering, with Needham & Company, LLC acting as joint lead manager and Stifel Nicolaus and Craig-Hallum Capital Group acting as co-managers. The offering is expected to close on March 8, 2010.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor will there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale is not permitted. The offering of these securities will be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from Barclays Capital Inc., c/o Broadridge Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717; barclaysprospectus@broadridge.com (phone: 888-603-5847).
The issuer has filed a registration statement (including a base prospectus) with the Securities and Exchange Commission, or SEC, for an offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and related prospectus supplements and other documents that the issuer has filed or will file with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, you may obtain a preliminary prospectus supplement and accompanying prospectus as indicated above.
About LTX-Credence
LTX-Credence is a global provider of focused, cost-optimized ATE solutions designed to enable customers to implement best-in-class test strategies to maximize their profitability. LTX-Credence addresses the broad, divergent test requirements of the wireless, computing, automotive and entertainment market segments, offering a comprehensive portfolio of technologies, the largest installed base in the Asia-Pacific region, and a global network of strategically deployed applications and support resources.
Safe Harbor for Forward-Looking Statements
Statements in this release, including statements relating to LTX-Credence's expectations regarding the completion, timing and size of the proposed public offering, constitute forward-looking statements within the meaning of the United States securities laws, including the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including statements containing the words "believes," "anticipates," "plans," "expects," "may," "will," "would," "intends," "estimates" and similar expressions) should also be considered to be forward-looking statements. These statements are subject to known and unknown risks and uncertainties that could cause actual results or events to differ materially from those stated or implied, including but not limited to: uncertain global economic and industry conditions, the duration and severity of the current economic climate, fluctuations in business and consumer spending; fluctuations in our sales and operating results; risks related to the timely development of new products, options and software applications, as well as the other risks described in our filings with the U.S. Securities and Exchange Commission, including those included under the heading "Business Risks" in our Quarterly Report on Form 10-Q for the fiscal quarter ended October 31, 2009. LTX-Credence disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
LTX-Credence is a trademark of LTX-Credence Corporation.
All other trademarks are the property of their respective owners.