July 28, 2016 10:12 PM ET

Semiconductors and Semiconductor Equipment

Company Overview of Spansion Inc.

Company Overview

As of March 12, 2015, Spansion Inc. was acquired by Cypress Semiconductor Corporation. Spansion, Inc. designs, manufactures, develops, and sells embedded systems semiconductors. The company offers flash memory, microcontrollers, and analog and mixed-signal products, and embedded system-on-chip solutions. It provides a family of parallel and serial NOR flash memory, as well as a range of lower density NAND and embedded managed NAND flash memory products for non-commodity embedded applications. The company also offers a family of 8-, 16-, 32-bit proprietary and 32-bit ARM based microcontrollers that are used in automotive applications, such as body electronics, chassis and safety, power train ...

915 DeGuigne Drive

PO Box 3453

Sunnyvale, CA 94088

United States

Founded in 2005

3,893 Employees

Phone:

408-962-2500

Key Executives for Spansion Inc.

Spansion Inc. does not have any Key Executives recorded.

Spansion Inc. Key Developments

Cypress Semiconductor Corporation Enters into Amendment No. 2 and 3 to Amended and Restated Credit Agreement

Cypress Semiconductor Corporation entered into amendment no. 2 to amended and restated credit agreement, dated as of March 23, 2016, made by and among Cypress Semiconductor Corporation, Cypress Semiconductor (Minnesota) Inc., Spansion Inc., Spansion LLC, Spansion Technology LLC, Spansion International AM, Inc., and Spansion International Trading Inc., the lenders party thereto, and Morgan Stanley Senior Funding, Inc. (the second amendment), which amends the amended and restated credit agreement, dated as of March 12, 2015, entered into by and among the company, the guarantors from time to time party thereto, the lenders from time to time party thereto, Morgan Stanley Senior Funding, Inc., as administrative agent and as collateral agent, and the other agents party thereto (as amended, modified or supplemented, the credit agreement). In addition, the company entered into Amendment No. 3 to Amended and Restated Credit Agreement, dated as of March 23, 2016, made by and among Cypress Semiconductor Corporation, Cypress Semiconductor (Minnesota) Inc., Spansion Inc., Spansion LLC, Spansion Technology LLC, Spansion International AM, Inc., and Spansion International Trading, Inc., the lenders party thereto, and Morgan Stanley Senior Funding, Inc. (together with the Second Amendment, the Amendments), which also amends the credit agreement. Each Amendment became effective on April 28, 2016 when the company satisfied all of the conditions to effectiveness. The amendments amend, among other things, the incremental facilities provisions of the credit agreement to allow for certain term loans and to allow for unlimited incremental facilities if the company is in pro forma compliance with a specified secured leverage ratio, the total leverage ratio covenant to permit higher total leverage ratios during certain periods, and the restricted payments covenant and investments covenant to provide additional restrictions for the use of certain baskets contained in such covenants.

Spansion Inc. and Mustang Acquisition Corporation Announces Management Changes

In connection with the Merger, at and upon the Effective Time, all of the directors of Spansion immediately prior to the Effective Time ceased to be directors of Spansion and were replaced by T.J. Rodgers and Thad Trent, the directors of Merger Sub immediately prior to the Effective Time. In connection with the Merger, at and upon the Effective Time, John Kispert, Spansion's President and Chief Executive Officer, and Randy Furr, Spansion's Corporate Executive Vice President and Chief Financial Officer (and principal financial officer and principal accounting officer), ceased to be officers of Spansion, and the officers of Merger Sub immediately prior to the Effective Time became the officers of Spansion. As such, at and upon the Effective Time, T.J. Rodgers became the President (principal executive officer) and Treasurer (principal financial officer and principal accounting officer) of Spansion and Thad Trent became the Secretary of Spansion.

Spansion Inc.(NYSE:CODE) dropped from CRSP US Total Market Index

Spansion Inc.(NYSE:CODE) dropped from CRSP US Total Market Index

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