-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, AOhzObo7h4bFre0dgEE3rDsdx4yN4Utm6cfGpGlHVhaN2d6T/t316W+UV2T4Zyxd cmMjAinK9o5W/QfCeEu+XQ== 0000950157-97-000340.txt : 19970729 0000950157-97-000340.hdr.sgml : 19970729 ACCESSION NUMBER: 0000950157-97-000340 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19970728 SROS: NASD FILER: COMPANY DATA: COMPANY CONFORMED NAME: COMVERSE TECHNOLOGY INC/NY/ CENTRAL INDEX KEY: 0000803014 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE & TELEGRAPH APPARATUS [3661] IRS NUMBER: 133238402 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-30799 FILM NUMBER: 97646481 BUSINESS ADDRESS: STREET 1: 170 CROSSWAYS PARK DR CITY: WOODBURY STATE: NY ZIP: 11797 BUSINESS PHONE: 5166777200 MAIL ADDRESS: STREET 1: 170 CROSSWAYS PARK DRIVE STREET 2: 170 CROSSWAYS PARK DRIVE CITY: WOODBURY STATE: NY ZIP: 11797 424B3 1 PROSPECTUS SUPPLEMENT PROSPECTUS SUPPLEMENT (To Prospectus dated July 3, 1997) $115,000,000 COMVERSE TECHNOLOGY, INC. 5 3/4% Convertible Subordinated Debentures due 2006 initially convertible into 2,513,661 Shares of Common Stock, $.10 par value Set forth in this Prospectus Supplement is certain updating information regarding the Selling Holders and the price range of the Common Stock. THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION NOR HAS THE COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS SUPPLEMENT OR THE ACCOMPANYING PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. July 28, 1997 PRICE RANGE OF COMMON STOCK AND DIVIDEND POLICY The Company's Common Stock is traded on the Nasdaq National Market under the symbol "CMVT." The following table sets forth, for the periods indicated, the range of high and low closing sales prices for the Common Stock, as reported by Nasdaq. Low High 1994 First Quarter .......................... $ 8.0 $15.63 Second Quarter ......................... 8.2 10.50 Third Quarter .......................... 8.7 11.13 Fourth Quarter ......................... 9.8 14.25 1995 First Quarter .......................... $11.0 $14.63 Second Quarter ......................... 13.2 18.25 Third Quarter .......................... 17.1 23.38 Fourth Quarter ......................... 19.9 25.69 1996 First Quarter .......................... $16.6 $25.13 Second Quarter ......................... 23.3 31.19 Third Quarter .......................... 23.7 41.38 Fourth Quarter ......................... 32.5 38.13 1997 First Quarter .......................... $36.8 $46.38 Second Quarter ......................... $36.5 $52.00 Third Quarter (through July 25, 1997)... $49.0 $52.81 On July 25, 1997, the last reported sale price of the Common Stock on the Nasdaq National Market was $49.57. As of July 2, 1997, there were approximately 1,593 holders of record of the Common Stock. The Company has never declared or paid dividends on its capital stock and does not anticipate paying any dividends in the foreseeable future. The Company currently intends to retain its earnings, if any, to finance the development and growth of its business. SELLING HOLDERS The Debentures were originally issued by the Company and sold by the Initial Purchaser, in transactions exempt from the registration requirements of the Securities Act, to persons reasonably believed by the Initial Purchaser to be "qualified institutional buyers" (as defined in Rule 144A under the Securities Act) or other institutional "accredited investors" (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act) or in transactions complying with the provisions of Regulation S under the Securities Act. The Selling Holders (which term includes their transferees, pledgees, donees or their successors) may from time to time offer and sell pursuant to this Prospectus any or all of the Debentures and Common Stock issued upon conversion of the Debentures. The following table sets forth information with respect to the Selling Holders and the respective principal amounts of Debentures and shares of Common Stock beneficially owned by each Selling Holder. Such information has been obtained from the Selling Holders. Except as otherwise disclosed herein, none of the Selling Holders has, or within the past three years has had, any position, office or other material relationship with the Company or any of its predecessors or affiliates. Because the Selling Holders may offer all or some portion of the Debentures or the Common Stock issuable upon conversion thereof pursuant to this Prospectus, no estimate can be given as to the amount of the Debentures or the Common Stock issuable upon conversion thereof that will be held by the Selling Holders upon termination of any such sales. In addition, the Selling Holders identified below may have sold, transferred or otherwise disposed of all or a portion of their Debentures since the date on which they provided the information regarding their Debentures in transactions exempt from the registration requirements of the Securities Act. Finally, additional Selling Holders may from time to time be identified and information with respect to such Selling Holders be provided in a Prospectus Supplement.
Principal Amount of Number of Debentures Shares of Beneficially Owned Common Stock Selling Holder and Offered Hereby Beneficially Owned(1) Equitable Life Assurance -- Separate Account Convertibles ............... $4,450,000 -- J.P. Morgan Securities Inc. -- Whitefriars .... 4,000,000 -- Lincoln National Life Insurance Company ....... 3,818,000 -- Husic Capital Management as a Discretionary Asset Manager for the Ameritech Pension Plan .. 3,000,000 -- State of Oregon Equity ........................ 3,000,000 -- AIM Charter Fund, a series of AIM Equity Funds, Inc. .......................... 2,000,000 -- Van Kampen American Capital Harbor Fund ....... 2,000,000 -- Hudson River Trust Balanced Account ........... 1,765,000 -- Memphis Light, Gas & Water Retirement Fund .... 1,750,000 -- Carrigaholt Capital (Bermuda) L.P. ............ 1,600,000 -- Sheperd Investments International, Ltd. ....... 1,600,000 -- Stark International ........................... 1,600,000 -- Kellner, DiLeo & Co. .......................... 1,550,000 -- Hudson River Trust Growth Investors ........... 1,425,000 -- Delta Air Lines Master Trust .................. 1,400,000 -- Lehman Brothers Inc. .......................... 1,350,000 -- Hospital Corp. of America Money Purchase Plan ......................... 1,320,000 -- Phoenix Income & Growth Fund .................. 1,250,000 -- Hudson River Trust Growth & Income ............ 1,210,000 -- Class 1 C, L.P. ............................... 1,100,000 -- Paloma Securities L.L.C ....................... 1,010,000 -- Merrill Lynch Capital Markets P.L.C ........... 1,000,000 --
Principal Amount of Number of Debentures Shares of Beneficially Owned Common Stock Selling Holder and Offered Hereby Beneficially Owned(1) Lincoln National Convertible Securities Fund .. $865,000 -- Forest Fulcrum Fund LP ........................ 810,000 -- The Dow Chemical Company Employees' Retirement Plan .................. 790,000 -- Pacific Mutual Life Insurance Company ......... 750,000 -- TQA Vantage Fund Ltd. ......................... 725,000 -- Port Authority of Allegheny County Retirement and Disability Allowance Plan for the Employees Represented by Local 85 of the Amalgamated Transit Union 675,000 -- Silverton International Fund Limited .......... 640,000 -- Champion International Corporation Master Retirement Trust ..................... 575,000 -- The Hotel Union & Industry of Hawaii .......... 575,000 -- RJR Nabisco, Inc. Defined Benefit Master Trust 560,000 -- Ingelsa Ltd. .................................. 500,000 -- Value Line Convertible Fund ................... 500,000 -- The HCA Foundation ............................ 460,000 -- Forest Fulcrum Fund Ltd. ...................... 400,000 -- The Sumitomo Trust & Banking Co., Ltd. ........ 400,000 -- Equitable Life Assurance-- Separate Account Balanced..................................... 375,000 -- Van Kampen American Capital Convertible Securities Fund ................. 350,000 -- Weirton Trust ................................. 350,000 -- Associated Electric and Gas Insurance Services Ltd................................. 275,000 -- Starvest Discretionary ........................ 250,000 -- Walker Art Center ............................. 240,000 -- AIM VI Growth and Income Fund, a series of AIM Variable Insurance Funds, Inc. ....... 200,000 -- The Hotel Union -- ILWU Pension Trust ......... 200,000 -- Greyhound Lines Fund .......................... 150,000 -- LLT Ltd. ...................................... 140,000 -- David Lipscomb University ..................... 135,000 -- Fiducie Desjardins ............................ 65,000 -- Savings & Investment Trust .................... 35,000 -- United National Life Insurance Co. ............ 30,000 -- ---------- --------- Total................................ $55,218,000 -- =========== =========
- ------------------ (1) Excludes shares of Common Stock issuable upon conversion of Debentures. -----END PRIVACY-ENHANCED MESSAGE-----