This excerpt taken from the ONNN 8-K filed May 9, 2007.
Under Existing Shelf Registration Statements
PHOENIX, Ariz. May 8, 2007 ON Semiconductor Corporation (NASDAQ: ONNN) today announced that affiliates of the Texas Pacific Group (TPG), ON Semiconductors largest shareholder, have sold approximately 49.2 million shares of ON Semiconductors common stock in a registered public offering underwritten by Lehman Brothers Inc.
After completion of the proposed offering, TPGs beneficial ownership of the Companys common stock was reduced to approximately 1.2 million shares or less than 1 percent of the total outstanding shares.
This sale was made pursuant to ON Semiconductors existing shelf registration statements. ON Semiconductor will not receive any proceeds from this sale of its common shares.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any securities. A written prospectus may be obtained, when available, from Lehman Brothers, c/o Broadridge, 1155 Long Island Avenue, Edgewood, NY 11717; email: email@example.com. Alternatively, you may obtain a copy of the prospectus from Lehman Brothers by calling (888) 603-5847.