Business News

PSi Technologies Extends Maturity on US$4 Million Exchangeable Senior Subordinated Note

2008-08-04 15:00:00

PSi Technologies Extends Maturity on US$4 Million Exchangeable Senior Subordinated Note

    MANILA, Philippines, Aug. 4 /EMWNews/ -- PSi Technologies

Holdings, Inc. (Nasdaq: PSIT), a leading independent provider of assembly

and test services for the power semiconductor market, today announced the

signing of an amendment to the $4 million exchangeable senior subordinate

note issued to Merrill Lynch Global Emerging Markets Partners, LLC, an

affiliate of Merrill Lynch Global Emerging Markets Partners, L.P., the

Company's majority shareholder. The amendment, dated July 31, 2008, extends

the maturity date of the aforementioned note from July 31, 2008 to August

15, 2008. The maturity of the aforementioned note had previously been

extended from June 1, 2008 to July 31, 2008.

    The note is issued by the Company's principal operating subsidiary, and

it accrues interest at 10% per year, net of Philippine withholding tax. The

note is exchangeable into the Company's common stock at a price of $1.06

per share.

    About PSi Technologies Holdings, Inc.

    PSi Technologies is a focused independent semiconductor assembly and

test service provider to the power semiconductor market. The Company

provides comprehensive package design, assembly and test services for power

semiconductors used in telecommunications and networking systems, computers

and computer peripherals, consumer electronics, electronic office

equipment, automotive systems and industrial products. Their customers

include most of the major power semiconductor manufacturers in the world

such as Infineon Technologies, ON Semiconductor, Philips Semiconductor, and

ST Microelectronics. For more information, visit the Company's web site at or call:

At PSi Technologies Holdings, Inc.: At Financial Relations Board: Larry Cajucom Lasse Glassen (632) 838 4489 (213) 486 6546 [email protected] [email protected] This press release contains forward-looking statements that involve risks and uncertainties. Actual results and outcomes may differ materially. Factors that might cause a difference include, but are not limited to, those relating to the pace of development and market acceptance of PSi's products and the power semiconductor market generally, commercialization and technological delays or difficulties, the impact of competitive products and technologies, competitive pricing pressures, manufacturing risks, the possibility of our products infringing patents and other intellectual property of third parties, product defects, costs of product development, manufacturing and government regulation, risks inherent in emerging markets, including but not limited to, currency volatility and depreciation, restricted access to financing and political and social unrest and the possibility that the initiatives described herein may not produce the intended results. PSi undertakes no responsibility to update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect PSi's financial results is included in the documents PSi files from time to time with the Securities and Exchange Commission.

Major Newsire & Press Release Distribution with Basic Starting at only $19 and Complete OTCBB / Financial Distribution only $89

Get Unlimited Organic Website Traffic to your Website now offers Organic Lead Generation & Traffic Solutions

Blake Masterson

Freelance Writer, Journalist and Father of 5

Related Articles

Back to top button