PHOENIX, Ariz. - April 6, 2006 - ON Semiconductor Corporation (Nasdaq: ONNN) today announced a proposed common stock offering of 10.5 million shares. These shares will be issued under ON Semiconductor's existing shelf registration statement on file with the Securities and Exchange Commission.
In connection with the offering, ON Semiconductor proposes to grant the underwriter an option for a period of 30 days from the initial offering to purchase up to an additional 1.1 million shares of common stock to cover over-allotments, if any. ON Semiconductor plans to use the net proceeds from the offering to pay a portion of the purchase price for LSI Logic Corporation's Gresham, Ore., wafer fabrication facility.
Morgan Stanley & Co. Incorporated is acting as sole underwriter for this offering. Copies of the preliminary prospectus related to the common stock offering may be obtained from Morgan Stanley & Co. Incorporated, Prospectus Department, 180 Varick Street, New York, NY 10014 (telephone no. 212-761-6775).
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law of any such jurisdiction. The common stock offering may be made only by means of a prospectus and related prospectus supplement, copies of which may be obtained by contacting Morgan Stanley as indicated in this news release.
About ON Semiconductor
With its global logistics network and portfolio of power semiconductor devices, ON Semiconductor (Nasdaq: ONNN) is a supplier of power solutions to engineers, purchasing professionals, distributors and contract manufacturers in the computer, cell phone, portable devices, automotive and industrial markets. For more information, please visit ON Semiconductor's website at www.onsemi.com.