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EXHIBIT 99.1
News Release
FOR IMMEDIATE RELEASE
Contact: Matthew C. Gless
Chief Financial Officer
Peregrine Systems, Inc.
Phone: (858) 481-5000
PEREGRINE SYSTEMS-REGISTERED TRADEMARK- ANNOUNCES $250 MILLION PRIVATE OFFERING
OF
CONVERTIBLE SUBORDINATED NOTES
SAN DIEGO, NOVEMBER 2, 2000 -- Peregrine Systems, Inc. (NASDAQ: PRGN), today
announced that it intends to offer, subject to market and other conditions, $250
million of Convertible Subordinated Notes due 2007 (plus an additional amount of
up to $50 million at the option of the purchasers) in a private placement. The
notes will be convertible into the company's common stock at the option of the
holder, at the price determined.
Peregrine intends to use the net proceeds of the anticipated offering for
general corporate purposes, including capital expenditures and research and
development. Peregrine expects, if the opportunity arises, to use an unspecified
portion of the net proceeds for strategic transactions such as acquisitions,
joint ventures, joint development projects, strategic investments and other
transactions.
This announcement is neither an offer to sell nor a solicitation of an offer to
buy any of these securities.
The notes and the common stock issuable upon conversion of the notes have not
been registered under the Securities Act of 1933, as amended (the "Securities
Act") or any state securities laws, and are being offered only to qualified
institutional buyers in reliance on Rule 144A under the Securities Act and
outside the United States to non-U.S. persons in compliance with Regulation S of
the Securities Act. Unless so registered, the notes and common stock issued upon
conversion of the notes may not be offered or sold in the United States except
pursuant to an exemption from the registration requirements of the Securities
Act and applicable state securities laws.
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Peregrine Systems is a registered trademark of Peregrine Systems, Inc.
