LEXINGTON, Mass., May 4 /PRNewswire/ -- Raytheon Company (NYSE: RTNA,
RTNB) announced today the public offerings of 12.5 million shares of Class B
common stock at $27.50 per share and 15 million, 8.25 percent equity security
units at $50 per unit. The company has also granted the underwriters an
option to purchase up to an additional 1.875 million shares to cover over-
allotments of Class B common stock, if any and an option to purchase up to an
additional 2.25 million equity security units to cover over-allotments of
equity securities units, if any.
Each equity security unit will initially consist of a contract to purchase
shares of common stock of Raytheon Company and $50 in principal amount of a
trust preferred security of RC Trust I, a Delaware Business Trust formed by
Raytheon with a stated liquidation amount of $50. The offerings were priced
yesterday and are expected to close on May 9, 2001. The net proceeds of the
offering will be used to reduce debt and for general corporate purposes.
With headquarters in Lexington, Mass., Raytheon Company is a global
technology leader in defense, government and commercial electronics, and
business and special mission aircraft.
Forward-looking statements
Certain statements made in this release constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995 regarding the company's future plans, objectives, and expected
performance. Specifically, statements that are not historical facts,
including statements accompanied by words such as "believe," "expect,"
"estimate," "intend," or "plan" are intended to identify forward-looking
statements and convey the uncertainty of future events or outcomes. The
company cautions readers that any such forward-looking statements are based on
assumptions that the company believes are reasonable, but are subject to a
wide range of risks, and actual results may differ materially. Important
factors that could cause actual results to differ include, but are not limited
to: risks associated with implementing the offering.
This press release does not constitute an offer to sell or 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. Each of the offerings may
be made only by means of a prospectus and related prospectus supplement,
copies of which may be obtained from Credit Suisse First Boston Corporation,
Eleven Madison Avenue, Prospectus Department, New York, New York, 10010-3629,
(telephone number 212-325-2580).
Contact:
David Polk
781.860.2386
SOURCE Raytheon Company
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Related links:
http://www.raytheon.com
CONTACT:
David Polk of Raytheon Company, 781-860-2386
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