EX-1
from SC 13D/A
2 pages
Power-One Recently Announced Its Financial Results for the Fiscal Quarter Ended March 31, 2009, and Entered Into an Agreement With Silver Lake Sumeru (“Silver Lake”), Pursuant to Which Silver Lake Will Make a $60 Million Investment in the Company, Consisting of $23.6 Million of Convertible Preferred Stock, $36.4 Million Senior Convertible Notes, and 8.7 Million Warrants for Power-One Common Stock
12/34/56
EX-1
from SC 13D/A
2 pages
We Appreciate the Time That Mr. Jay Walters, Chairman of the Board, and Mr. Richard J. Thompson, Chief Executive Officer, Took to Speak With Me on March 25, 2008. Bel Fuse Inc., Together With Our Wholly-Owned Subsidiary, Bel Ventures Inc., Is One of the Largest Stockholders of Power-One, Inc. ("Power-One" or the "Company") Owning [4,370,052] Shares of the Company's Common Stock, or Approximately [5.0]% of the Outstanding Shares. We Have Invested in Power-One Because We Believe That There Is Substantial Unrecognized Value in the Company. Based Upon Our Discussion With Messrs. Walters and Thompson and Our In-Depth Review of Publicly Available Information, However, We Have Strong Doubts About the Company's Ability to Remain Financially Viable. Simply Put, It Is Our Belief That if Power-One Continues to Perform as It Did in the Most Recently Completed Fiscal Quarter, for Example, With Cash and Cash Equivalents Decreasing $7.6 Million Since December 31, 2007, the Company Will Quickly Become Unable to Meet Its Capital Requirements
12/34/56
