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Big Law

Motorola Solutions to Get Another $1B Investment From Silver Lake

Private equity firm Silver Lake moved to extend a strategic partnership with Motorola Solutions (NYSE: MSI) by pledging another $1B investment in the mission-critical communications platforms provider. Silver Lake will buy 1.75 percent convertible senior unsecured notes that are due in September 2024 and have an initial conversion price of $203.50 per share as part of the new agreement, Motorola said Thursday. Motorola added that it will settle its $800M aggregate principal investment by paying Silver Lake approximately $1.1B in cash and issuing about 5.5M shares. The settlement is equivalent to 2 percent convertible notes set to mature in 2020.

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