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Zeev here are more of the RMBS details

Press Release Source: Rambus Inc.


Rambus Prices $300 Million Offering of Zero Coupon Convertible Senior Notes
Thursday January 27, 8:15 am ET


LOS ALTOS, Calif.--(BUSINESS WIRE)--Jan. 27, 2005--Rambus Inc. (Nasdaq:RMBS - News) announced today the pricing of its offering of $300 million aggregate principal amount of Zero Coupon Convertible Senior Notes due 2010 to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933 (the "Act") and to persons in offshore transactions in reliance on Regulation S under the Act. The sale of the notes to the initial purchasers is expected to close on February 1, 2005.
The notes will be convertible into cash or a combination of cash and shares of the company's common stock. The initial conversion price of the notes is approximately $26.84 per share. The notes are subject to repurchase in the event of a fundamental change involving the company at a price of 100% of the principal amount.

The company has also granted the initial purchasers a 30-day option to purchase up to an additional $60 million aggregate principal amount of the notes.

The company intends to use a portion of the net proceeds of the offering to repurchase up to $75 million of its common stock. The company plans to use the balance of the net proceeds for working capital and general corporate purposes, which may include the funding of developing and protecting its intellectual property, and the acquisition of businesses, products, product rights or technologies.