Adaptec, Inc. Announces Proposed Private Offering of Convertible Subordinated Notes

2/27/2002 - Adaptec, Inc. (NASDAQ: ADPT) today announced that it intends to raise, subject to market and other conditions, a total of $250 million through a private offering of convertible subordinated notes (which amount does not give effect to an option granted to the initial purchasers to acquire an additional $50 million of the notes). The offering will be made only to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933.

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