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Underwriters buy additional notes from TTM

By Associated Press
May 22, 2008 | Comments (0)

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Circuit board maker TTM Technologies Inc. said Thursday the underwriters of its offering of convertible senior notes have exercised their overallotment option to buy an additional $20 million of the notes.

TTM's offering of the 3.25 percent senior convertible notes due 2015 closed on May 14.

Including the additional notes purchased by the underwriters, the offering totaled $175 million of notes. The net proceeds totaled about $169.5 million, after deducting underwriting discounts and estimated expenses.

TTM plans to use some of the net proceeds for general corporate purposes, including potential acquisitions.

TTM shares fell 10 cents to $15.43 in morning trading.

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