Business Context and Reporting Period
This Form 6-K filing by Tower Semiconductor Ltd. covers the month of February 2006, with the report dated February 16, 2006. The filing primarily addresses changes in the company's capital structure and outstanding share count following the fiscal year-end of December 31, 2005.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt levels, or liquidity ratios. The document focuses exclusively on equity capitalization data.
- Shares Outstanding (Dec 31, 2005): 66,932,056 ordinary shares.
- Shares Issued (Post-Dec 31, 2005): 7,911,533 ordinary shares.
- Shares Outstanding (Feb 14, 2006): 74,843,549 ordinary shares.
Material Changes
The primary material change reported is a significant increase in the number of outstanding ordinary shares due to two specific conversion events:
- Convertible Debentures: 5,198,137 shares were issued upon the conversion of Subordinated Convertible Debentures due 2012.
- Wafer Purchaser Credits: 2,713,396 shares were issued to certain wafer partners in connection with the conversion of credits.
Guidance, Outlook, and Risks
The filing text does not contain management commentary, financial guidance, outlook statements, risk factors, or disclosures regarding contingencies and unusual items.
Investor Verification Checklist
- Verify the total number of outstanding shares (74,843,549) as of February 14, 2006, for accurate per-share calculations.
- Confirm the dilution impact resulting from the conversion of 5,198,137 shares from Subordinated Convertible Debentures.
- Review the terms of the wafer purchaser credit conversions that resulted in the issuance of 2,713,396 shares.
- Consult the Form 6-K filed on February 2, 2006, for the detailed financial statements referenced in this filing.