Vitesse Announces $90 Million Private Offering

Vitesse Semiconductor intends to offer approximately $90 million aggregate principal amount of Convertible Subordinated Debentures due 2024 in a private placement to qualified institutional buyers. The company said it intends to use up to $20 million of the net proceeds of this offering to fund a concurrent repurchase of shares of its common stock, and the remainder of the net proceeds for general corporate purposes. http://www.vitesse.com