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EFI to Raise $200 Million, To be used for acquisitions, Stock Buy-back

Thursday, May 29, 2003

Press release from the issuing company

FOSTER CITY, Calif.--May 28, 2003-- Electronics For Imaging, Inc. (EFI) today announced that it intends to offer approximately $200 million principal amount of convertible debentures due 2023 through a private placement. The terms of the offering are expected to include an option exercisable by the initial purchasers to purchase up to an additional $40 million. The Company intends to use up to $80 million of the net proceeds to purchase shares of its common stock from an affiliate of one of the initial purchasers at the reported last sale price of the common stock on May 29, 2003. Such affiliate of one of the initial purchasers intends to purchase shares of the Company's common stock sold short by, or enter into swap transactions with, buyers of the debentures in negotiated transactions simultaneously with the sale of the debentures. The Company expects to use the remaining net proceeds for general corporate purposes, which may include the purchase of additional shares of its common stock and acquisitions of complementary businesses and technologies.

 

 

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