MagnaChip Announces Proposed Secondary Offering of 5M Shares of Common Stock
(Benzinga Lightning Feed Via Acquire Media NewsEdge) MagnaChip Semiconductor Corporation (NYSE: MX), a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products, today announced that, subject to market conditions, certain of its stockholders (the "selling stockholders") intend to offer and sell 5,000,000 shares of MagnaChip's common stock in an underwritten registered public offering. In addition, the selling stockholders intend to grant the underwriters of the common stock an option to purchase an additional 750,000 shares of common stock. MagnaChip will not receive any proceeds from the sale of its common stock by the selling stockholders.
Barclays Capital Inc., Deutsche Bank Securities Inc., Citigroup Global Markets Inc. and UBS Securities LLC will act as joint book-running managers for the proposed offering. Needham & Company, LLC will act as co-manager.
A registration statement (including a prospectus) relating to these securities was declared effective by the Securities and Exchange Commission ("SEC") on April 26, 2012 and MagnaChip has filed a related preliminary prospectus supplement with the SEC. Before you invest, you should read the prospectus included in that registration statement, the preliminary prospectus supplement and the other documents MagnaChip has filed with the SEC for more complete information about MagnaChip and its common stock. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, a copy of the final prospectus supplement relating to the offering may be obtained from:
Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by telephone at 888-603-5847 or by e-mail at Barclaysprospectus@broadridge.com;
Deutsche Bank Securities Inc., Attention: Prospectus Department, 60 Wall Street, New York, NY 10005-2836, or by telephone at 800-503-4611 or by email at email@example.com;
Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (Tel: 800-831-9146), or by e-mail at firstname.lastname@example.org; or
UBS Securities LLC, Attn: Prospectus Department, 299 Park Avenue, New York, NY 10171 or by telephone at 888-827-7275.
This release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there by any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The offering of the common stock will be made only by means of the prospectus and related prospectus supplement. The common stock being offered has not been approved or disapproved by any regulatory authority, nor has any such authority passed upon the accuracy or adequacy of the registration statement, the prospectus contained therein or the preliminary prospectus supplement.
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