Cypress Announces Distribution Ratio for SunPower Class B Common Stock | Cypress Semiconductor
Cypress Announces Distribution Ratio for SunPower Class B Common Stock
SAN JOSE, Calif., September 22, 2008 - Cypress Semiconductor Corporation (NYSE: CY) today announced the distribution ratio for its previously announced spin-off of the Class B Common Stock of SunPower Corporation (Nasdaq: SPRW) that it owns. Cypress stockholders will receive approximately 0.2742 of a share of SunPower Class B Common Stock for each share of Cypress held as of the close of trading on the NYSE on September 17, 2008 (the "record date"). The distribution of the SunPower shares will be made after the close of trading on the NYSE on September 29, 2008. Cypress stockholders will receive cash in lieu of fractional shares for amounts of less than one SunPower share.
Registered holders of Cypress common stock who are entitled to receive the distribution will receive an account statement reflecting their ownership of SunPower Class B common stock from our Transfer Agent, Computershare. For additional information, registered stockholders in the U.S. or Canada should contact Cypress's transfer agent, Computershare Trust Company at www.computershare.com/contactus, or by phone at (781) 575-2879.
Holders of Cypress common stock who hold their shares through a broker, bank or other nominee will have their brokerage account credited with the SunPower Class B common stock." For additional information, those holders should contact their broker or bank directly.
About CypressCypress delivers high-performance, mixed-signal, programmable solutions that provide customers with rapid time-to-market and exceptional system value. Cypress offerings include the PSoC® Programmable System-on-Chip™, USB controllers, general-purpose programmable clocks and memories. Cypress also offers wired and wireless connectivity solutions ranging from its WirelessUSB™ radio system-on-chip, to West Bridge™ and EZ-USB® FX2LP controllers that enhance connectivity and performance in multimedia handsets. Cypress serves numerous markets including consumer, computation, data communications, automotive, industrial, and solar power. Cypress trades on the NYSE under the ticker symbol CY. Visit Cypress online at www.cypress.com.
About SunPowerSunPower Corporation (Nasdaq: SPWR) designs, manufactures and delivers high-performance solar-electric systems worldwide for residential, commercial and utility-scale power plant customers. SunPower high-efficiency solar cells and solar panels generate up to 50 percent more power than conventional solar technologies and have a uniquely attractive, all-black appearance. With headquarters in San Jose, Calif., SunPower has offices in North America, Europe, Australia, and Asia. For more information, visit http://www.sunpowercorp.com. SunPower is a majority-owned subsidiary of Cypress Semiconductor Corp. (NYSE: CY).