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SOURCE ARRIS Group, Inc.
SUWANEE, Ga., Oct. 15, 2013 /PRNewswire/ -- ARRIS Group, Inc. (NASDAQ: ARRS) today announced that pursuant to the terms of the indenture governing its 2.00% Convertible Senior Notes due 2026 (the "Notes"), the Notes are convertible at the option of the holders (the "Conversion Option") from October 15, 2013 until 11:59 p.m. E.T. on November 15, 2013 (the "Conversion Period").
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 The Bank of New York Mellon Trust Company, N.A. (the "Trustee"), which serves as the trustee and conversion agent under the indenture, that, as of the date hereof, all custodians and beneficial holders of the Notes hold the Notes through Depository Trust Company ("DTC") accounts and that there are no outstanding certificated Notes in non-global form. Accordingly, all Notes surrendered for conversion must be delivered through the transmittal procedures of DTC.
ARRIS also is distributing a notice to holders regarding the Conversion Option. The notice is available through DTC and the Trustee.
The Trustee under the indenture is serving as conversion agent. For additional information regarding how to convert your Notes, contact the Trustee at the offices of The Bank of New York Mellon Trust Company, N.A. at 200 Ashford Center North, Suite 550, Atlanta, Georgia 30338, Telephone: (770) 698-5184, Attention: Kristine L. Prall.
Beginning on approximately October 17, 2013, holders of the Notes also will have an option to require ARRIS to purchase the Notes for the consideration provided for in, and pursuant to the terms of, the indenture (the "Put Option"). Additional information regarding the Put Option will be provided to the holders of the Notes through DTC and the Trustee in the near future.
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.
ARRIS is a premier video and broadband technology company that transforms how service providers worldwide deliver entertainment and communications without boundaries. Its powerful end-to-end platforms enable service and content providers to improve the way people connect – with each other and with their favorite content. The Company's vision and expertise continue to drive the industry's innovations, as they have for more than 60 years. Headquartered north of Atlanta, in Suwanee, Georgia, ARRIS has R&D, sales and support centers throughout the world. For more information: www.arrisi.com.
ARRIS and the ARRIS Logo are trademarks or registered trademarks of ARRIS Enterprises, Inc. All other trademarks are the property of their respective owners. © ARRIS Enterprises, Inc. 2013. All rights reserved.
This press release contains forward looking statements. 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. 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 Securities and Exchange Commission, including its Form 10-Q for the second quarter ended June 30, 2013. In providing forward-looking statements, the Company expressly disclaims any obligation to update publicly or otherwise these statements, whether as a result of new information, future events or otherwise.
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