Symmetricom Announces Proposed Convertible Note Offering
SAN JOSE, Calif. — May 31, 2005 — Symmetricom, Inc. (NASDAQ: SYMM) announced today that it intends to offer, subject to
market and other conditions, $100 million aggregate principal amount of contingent convertible subordinated notes due 2025.
The interest rate, conversion rate and offering price are to be determined by negotiations between the Company and the initial
purchasers of the notes. The Company also expects to grant to the initial purchasers of the notes a 30-day option to purchase
up to an additional $20 million of the notes.
The Company intends to use the net proceeds from the notes offering for working capital and general corporate purposes,
which may include acquisitions.
The notes have not been registered under the Securities Act of 1933, as amended, or any applicable state securities laws, and
will be offered only to qualified institutional buyers in reliance on Rule 144A. Unless so registered, the notes may not be offered
or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and
applicable state securities laws.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be
any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state.
About Symmetricom, Inc.
As a worldwide leader in precise time and frequency products and services, Symmetricom provides 'Perfect Timing' to
customers around the world. Since 1985, the company's solutions have helped define the world's time and frequency
standards, delivering precision, reliability and efficiency to wireline and wireless networks, instrumentation and testing
applications and network time management. Deployed in more than 90 countries, the company's synchronization solutions
include primary reference sources, building integrated timing supplies (BITS), GPS timing receivers, time and frequency
distribution systems, network time servers and ruggedized oscillators. Symmetricom also incorporates technologies including
Universal Timing Interface (UTI), Network Time Protocol (NTP), Precision Time Protocol (IEEE 1588), and others supporting the
world's migration to Next-Generation-Networks (NGN). Symmetricom is based in San Jose, Calif., with offices worldwide. For
more information, visit http://www.symmetricom.com.