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Power-One Moves to Raise Up to $850 Million in Securities Sale

October 31, 2000|BARBARA MURPHY

Power-One Inc. in Camarillo, a maker of power supplies for electrical equipment, is seeking government approval to sell securities to raise as much as $850 million.

The company filed papers to be able to sell debt securities, or common or preferred stock, in any combination or amount up to $850 million. The filing, once approved by the U.S. Securities and Exchange Commission, would let the company sell the securities from time to time as needed.

"We intend to use the net proceeds from the sale of the securities for repayment of debt and general corporate purposes, including possible acquisitions and strategic investments in new technologies," the company said in its filing.

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