Press Releases

SanDisk Corporation To Offer $100 Million Of Convertible Subordinated Notes

Dec 19, 2001

SUNNYVALE, CA, Dec. 19, 2001 - SanDisk Corporation (Nasdaq: SNDK) announced today that it intends to offer in a private placement, subject to market and other conditions, $100 million in convertible subordinated notes due 2006 in an offering to qualified institutional buyers. The interest rate, conversion rate and offering price are to be determined by negotiations between SanDisk and the initial purchasers of the notes. The offering is expected to close in December 2001. The company intends to grant the initial purchasers a 30-day option to purchase an additional $20 million of notes.

The net proceeds of the offering will be used for general corporate purposes, including the development of new technologies and fabrication facilities, general working capital and capital expenditures. We may also use a portion of the net proceeds to fund acquisitions of products, technologies or complementary businesses. However, we currently have no commitments or agreements for any specific acquisitions.

This announcement is neither an offer to sell nor a solicitation to buy any of these securities. The securities will not be registered under the Securities Act of 1933, as amended (the "Securities Act"), or any state securities laws, and unless so registered, may not be offered or sold except pursuant to an exemption from the registration requirements of the Securities Act and applicable state laws.

SanDisk, the world's largest supplier of flash data storage products, designs, manufactures and markets industry-standard, solid-state data, digital imaging and audio storage products using its patented, high density flash memory and controller technology. SanDisk is based in Sunnyvale, CA.


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