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Tower Semiconductor Ltd. — Capital/Financing Update 2006
Jan 10, 2006
7095_rns_2006-01-10_f516da18-d653-4ebc-9283-9401cb5c7a37.pdf
Capital/Financing Update
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TOWER SEMICONDUCTOR ISSUES REMINDER FOR THE EXERCISING OF ITS RIGHTS
MIGDAL HAEMEK, Israel, January 10, 2006 - Tower Semiconductor Ltd. (NASDAQ: TSEM; TASE: TSEM), a pure-play independent specialty foundry, today issued a reminder to holders of rights to purchase its Convertible Debentures due 2012, that the rights may be exercised until January 12, 2006 at 5:00 p.m. New York City time (midnight Israel time). However, rights holders that received their rights through a broker, dealer, custodian bank or other nominee (including a member of the Tel Aviv Stock Exchange) or that purchased their rights on the Tel Aviv Stock Exchange or on the Nasdaq Capital Market must ensure that their notice of exercise and the subscription payment is received by such earlier time as determined by their broker, dealer, custodian bank or other nominee (including a member of the Tel Aviv Stock Exchange).
Under the Tel Aviv Stock Exchange rules, Tel Aviv Stock Exchange members must submit to the Tel Aviv Stock Exchange Clearing House a written rights exercise (subscription) notice on behalf of all their clients wishing to exercise rights by no later than 9:00 a.m. Israel time (2:00 a.m., New York City time) on January 12, 2006.
All unexercised rights will expire at 5:00 p.m. New York City time (midnight Israel time) on January 12, 2006.
The terms of the rights distribution and convertible debentures are described in the prospectus included in the registration statement filed in connection with the distribution of the rights. Copies of the prospectus can be obtained from the US Securities and Exchange Commission's EDGAR website at www.sec.gov, from the Israel Securities Authority's Magna website at www.magna.isa.gov.il or from Tower's website at www.towersemi.com.
About Tower Semiconductor Ltd.
Tower Semiconductor Ltd. is a pure-play independent specialty foundry established in 1993. The company manufactures integrated circuits with geometries ranging from 1.0 to 0.13 micron; it also provides complementary technical services and design support. In addition to digital CMOS process technology, Tower offers advanced non-volatile memory solutions, mixed-signal and CMOS image-sensor technologies.
Contact:
Tower Semiconductor Ilanit Vudinsky, +972 4 650 6434 [email protected]
or
Pacifico Inc. PR Agency Contact Mary Curtis, +1 408 293 8600 [email protected]