Total gross immediate proceeds amounted to approximately NIS 20 million (approximately $5.3 million). The sale of the shares and warrants is being made under the previously filed shelf registration statement as was approved and declared effective by the SEC on February 15, 2008. A prospectus supplement is filed with the SEC, and is available on the agency's Web site.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein.
About Tower Semiconductor
Tower Semiconductor Ltd., a global specialty foundry leader, manufactures integrated circuits, with geometries ranging from 1.0 to 0.13 micron and provides complementary technical services and design support. Tower, along with its fully owned U.S. subsidiary Jazz Semiconductor Inc., offers a broad range of process technologies, including digital, mixed-signal and RFCMOS, HV CMOS, power management, nonvolatile memory (NVM), embedded NVM, MEMS, and CMOS image sensors. Tower provides world-class customer service and maintains two fabrication facilities in Israel and a fab in Newport Beach, CA, with manufacturing capacity available in China, through partnerships with ASMC and HHNEC.