Cypress Semiconductor Announces Successful Completion Of Tender Offer For Ramtron International And Commences Subsequent Offering Period

Cypress Semiconductor Corporation (NASDAQ: CY) announced today the completion of its initial tender offer for all of the outstanding stock of Ramtron International Corporation (NASDAQ: RMTR).

The initial offering period expired at 12:00 midnight, New York City time, on October 9, 2012. Computershare Inc., the depositary for the tender offer, has advised Cypress that as of such time 23,290,666 shares had been validly tendered and not withdrawn, representing, together with shares beneficially owned by Cypress, a total of approximately 70% of Ramtron’s outstanding stock. An additional 559,785 shares were tendered subject to guaranteed delivery procedures, representing approximately 2% of Ramtron’s outstanding stock. All shares validly tendered and not withdrawn were accepted for payment.

Cypress also announced today that it would make available a subsequent offering period commencing immediately and expiring at 5:00 p.m., New York City time, on October 17, 2012, unless extended. The subsequent offering period will provide Ramtron stockholders who have not tendered their shares with the opportunity to do so. During the subsequent offering period, any shares validly tendered will be immediately accepted for payment, and tendering stockholders will promptly be paid $3.10 per share in cash, less any withholding taxes and without interest, which is the same amount per share that was offered and paid to Ramtron stockholders who tendered into the initial offering period.

The procedures for tendering shares during the subsequent offering period are the same as during the initial offering period, except that shares tendered during the subsequent offering period may not be tendered by the guaranteed delivery procedure and may not be withdrawn once tendered. Shares validly tendered during the initial offering period may not be withdrawn during the subsequent offering period.

Pursuant to the terms of the merger agreement with Cypress, Ramtron granted to a wholly owned subsidiary of Cypress a top-up option to purchase from Ramtron that number of newly-issued shares of Ramtron stock necessary for Cypress to own at least 90% of the outstanding shares. Cypress would be entitled to exercise the top-up option, and plans to do so, if, following the expiration of the subsequent offering period, Cypress owns more than approximately 86% but less than 90% of the outstanding shares.

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