The Conversion Option is triggered because ARRIS plans to reorganize its business by creating a new holding company structure. The primary purpose of the reorganization is to facilitate ARRIS' previously-announced proposed acquisition of the Motorola Home business from a subsidiary of
Pursuant to the reorganization, ARRIS will be renamed
In order to exercise the Conversion Option, holders must validly surrender the Notes at any time during the Conversion Period. The company has confirmed with
In connection with the reorganization,
Following the closing of the reorganization, the new holding company will file a copy of the supplemental indenture with the
For additional information regarding how to convert your Notes, contact the Trustee at the offices of
Following the closing of the reorganization, holders of the Notes also will have an option to require
None of the company, its Board of Directors, or its employees or the Trustee has made or is making any representation or recommendation to any holder of Notes as to whether to exercise or refrain from exercising the Conversion Option or the Put Option.
About ARRIS
ARRIS is a global communications technology company specializing in the design, engineering and supply of communications and IP technologies that support broadband services for residential and business customers around the world. The company supplies broadband operators with the tools and platforms they need to deliver and monitor advanced video, data and voice subscriber services, including whole home video across multiple screens, ultra high-speed data, personalized advertising and carrier-grade telephony. Headquartered near
Forward-Looking Statements
This press release contains forward looking statements. These statements include, among others, statements concerning the closing of the acquisition of the Motorola Home business, the closing of the holding company reorganization, the terms of the Notes following the holding company reorganization and the rights and obligations of the parties with respect to the Notes following the holding company reorganization. Statements regarding future events are based on the parties' current expectations. Actual results may differ materially from those suggested by any forward-looking statement. Forward-looking statements are necessarily subject to associated risks related to, among other things, satisfaction of all remaining closing conditions and the conditions for funding under ARRIS' credit facility. Other factors that could cause results to differ from current expectations include: the uncertain current economic climate and financial markets, and their impact on our customers' plans and access to capital; the impact of rapidly changing technologies; the impact of competition on product development and pricing; the ability of ARRIS to react to changes in general industry and market conditions; rights to intellectual property and the current trend toward increasing patent litigation, market trends and the adoption of industry standards; possible acquisitions and dispositions; and consolidations within the telecommunications industry of both the customer and supplier base. These factors are not intended to be an all-encompassing list of risks and uncertainties that may affect the Company's business. Additional information regarding these and other factors can be found in ARRIS' reports filed with the
SOURCE
Bob Puccini, 720-895-7787