8-KMaterial AgreementsFinancial EventsExhibits & Filings

MICRON TECHNOLOGY INC 8-K Report, Material Agreement (May 23, 2007)

Filed May 23, 2007For Securities:MU

Summary

Micron Technology, Inc. (MU) filed an 8-K on May 23, 2007, primarily to disclose several material agreements related to recent financing activities. The company entered into an Underwriting Agreement with Morgan Stanley & Co. Incorporated for an unspecified offering, indicating potential capital raising or debt issuance. Further details reveal the execution of an Indenture with Wells Fargo Bank, National Association, as trustee, on May 23, 2007, which typically governs the terms of debt securities. Additionally, Micron entered into Capped Call Confirmations with Morgan Stanley & Co. International plc and Credit Suisse International. These instruments are financial derivatives often used to hedge against the potential dilution or cost of convertible debt, suggesting that the company may have recently issued or is planning to issue convertible securities.

Key Highlights

  • 1Filing of an 8-K on May 23, 2007, by Micron Technology, Inc.
  • 2Disclosure of an Underwriting Agreement dated May 17, 2007, with Morgan Stanley & Co. Incorporated.
  • 3Execution of an Indenture dated May 23, 2007, with Wells Fargo Bank, National Association, as trustee.
  • 4Inclusion of Capped Call Confirmations with Morgan Stanley & Co. International plc.
  • 5Inclusion of Capped Call Confirmations with Credit Suisse International.
  • 6These filings suggest significant recent or planned financing activities, potentially involving debt issuance and hedging strategies for convertible securities.

Frequently Asked Questions

The primary purpose of this 8-K filing is to disclose material agreements related to Micron's financing activities, including an underwriting agreement, an indenture, and capped call confirmations.

Capped Call Confirmations are financial derivative agreements. Their inclusion suggests that Micron may have recently issued or is planning to issue convertible debt. These instruments are often used to protect the company and its investors from potential share price volatility and dilution associated with convertible securities.

No, this 8-K filing does not specify the amounts, interest rates, or other specific terms of the financing activities. It primarily serves to report the execution of the agreements themselves.

The financial institutions involved are Morgan Stanley & Co. Incorporated (as underwriter representative), Wells Fargo Bank, National Association (as trustee), and Credit Suisse International (as counterparty for capped calls).