Business Context and Reporting Period
This Form 6-K filing by STMicroelectronics N.V. is dated October 12, 2004, and references a press release issued on October 11, 2004. The company is a global leader in semiconductor solutions and System-on-Chip (SoC) technology, with shares traded on the NYSE, Euronext Paris, and the Milan Stock Exchange.
Key Financial Metrics
The filing does not provide current period revenue, profit, cash flow, or margin data. It references historical 2003 figures: net revenues of $7.24 billion and net earnings of $253 million.
Specific debt and liquidity metrics related to the filing include:
- Outstanding Instrument: Liquid Yield Option Notes (LYONs).
- Residual Nominal Amount: $8,103,000 (representing 0.9% of the initial total amount issued).
- Redemption Price: $888.96 per $1,000 principal amount.
- Redemption Components: $784.84 principal amount plus $104.12 accrued original issue discount.
Material Changes
The primary material change is the announced redemption of all remaining outstanding LYONs. The company will redeem these notes on November 12, 2004. Upon redemption, the original issue discount on the remaining notes will cease to accrue. The filing does not provide comparative financial performance data for the current period versus the prior period.
Guidance, Outlook, and Unusual Items
The filing contains no forward-looking guidance, management commentary on future operations, or discussion of risks and contingencies beyond the specific transaction details.
Unusual Item / Transaction Details:
- Redemption Date: November 12, 2004.
- Conversion Option: Holders may convert LYONs into common shares before the close of business on November 12, 2004.
- Conversion Rate: 26.292 ST common shares per $1,000 principal amount.
- Potential Dilution: If all remaining holders convert, 213,044 ST common shares would be issued.
Investor Verification Checklist
- Verify the final redemption price of $888.96 per $1,000 principal amount on the redemption date.
- Confirm the exact number of LYONs converted to equity versus redeemed for cash prior to November 12, 2004.
- Check the impact of the potential issuance of 213,044 shares on the company's total share count.
- Review subsequent filings for the updated debt load following the extinguishment of the $8.1 million LYON obligation.