EX-99.1
Published on May 22, 2008
Exhibit 99.1
FOR IMMEDIATE RELEASE
Contacts:
|
Corporation: | Investors and Media: | ||
TTM Technologies, Inc. | Guerrant Associates | |||
Steve Richards, Chief Financial Officer | Laura Guerrant | |||
(714) 241-0303 | (808) 882-1467 | |||
investor@ttmtech.com | lguerrant@guerrantir.com |
TTM TECHNOLOGIES, INC. ANNOUNCES EXERCISE OF OVER-ALLOTMENT OPTION
FOR $20 MILLION OF SENIOR CONVERTIBLE NOTES
FOR $20 MILLION OF SENIOR CONVERTIBLE NOTES
SANTA ANA,
California May 22, 2008 TTM Technologies, Inc. (Nasdaq: TTMI) today announced that
underwriters have exercised in full their over-allotment option to purchase an additional $20
million aggregate principal amount of TTMs 3.25% Senior Convertible Notes due 2015 in connection
with the previously announced notes offering which closed on May 14, 2008. Including the
over-allotment notes purchased, the offering totaled $175 million aggregate principal amount of
notes. The net proceeds from the offering, including the exercise of the over-allotment, were
approximately $169.5 million, after deducting underwriting discounts and estimated expenses.
As previously announced, TTM used a portion of the net proceeds from the sale of additional
notes to enter into additional convertible note hedge transactions, which are intended to reduce
the potential dilution to TTMs common stockholders upon any conversion of the notes. TTM also
entered into additional warrant transactions, which resulted in additional proceeds to TTM. TTM
expects to use the remaining net proceeds from the offering for general corporate purposes,
including potential acquisitions.
Safe Harbor Statement
This press release contains forward-looking statements. Forward-looking statements are based on
managements current preliminary expectations and are subject to risks, uncertainties, and
assumptions. Other information on potential risk factors that could affect TTM, its business, and
its financial results are detailed in the companys periodic filings with the SEC, including, but
not limited to, those risks and uncertainties listed in the section entitled Risk Factors, which
can be found in TTMs quarterly report on Form 10-Q for the quarter ended March 31, 2008 filed with
the SEC on May 7, 2008. You are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release. TTM undertakes no obligation to
revise or update any forward-looking statements to reflect events or circumstances after the date
hereof.
About TTM
TTM Technologies, Inc. is a leading supplier of time-critical and technologically advanced printed
circuit boards to original equipment manufacturers and electronics manufacturing services
companies. TTM stands for time-to-market, representing how the companys time-critical, one-stop
manufacturing services enable customers to shorten the time required to develop new products and
bring them to market.
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