UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 6-K
Report of Foreign issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
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For the Month of November 2003
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(Commission File. No 0-30718).
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SIERRA WIRELESS, INC., A CANADA CORPORATION
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(Translation of registrant's name in English)
13811 WIRELESS WAY
RICHMOND, BRITISH COLUMBIA, CANADA V6V 3A4
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(Address of principal executive offices and zip code)
Registrant's Telephone Number, including area code: 604-231-1100
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Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F:
Form 20-F X 40-F
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Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:
Yes: No: X
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NEWS RELEASE TRANSMITTED BY CCN DISCLOSURE
FOR: Sierra Wireless, Inc.
TSX: SW
Nasdaq: SWIR
SIERRA WIRELESS, INC. PRICES PUBLIC OFFERING
Vancouver, British Columbia - Sierra Wireless, Inc. (NASDAQ: SWIR, TSX: SW)
today announced that it has executed an underwriting agreement with respect
to the public offering announced on November 4, 2003 of 4,000,000 common
shares at a price of US$16.25 per share. Sierra Wireless is offering
3,842,222 common shares from treasury, and two retiring officers of Sierra
Wireless are offering 157,778 common shares by way of a secondary offering.
Gross proceeds of this offering will be US$65.0 million. If the underwriters
fully exercise their over-allotment option of 600,000 common shares, gross
proceeds will be US$74.8 million. Lehman Brothers Inc. and CIBC World Markets
Inc. are the underwriters and joint bookrunners for the offering. The
proceeds from the offering will be used by Sierra Wireless for working
capital and general corporate purposes, including acquisitions.
Closing of the offering is expected before the commencement of trading on the
Nasdaq National Market and the Toronto Stock Exchange on November 14, 2003.
A registration statement relating to the common shares has been filed with
the U.S. Securities and Exchange Commission. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the common shares in any State in which such offer,
solicitation or sale would be unlawful.
Copies of the supplemented prospectus may be obtained from Lehman Brothers
c/o ADP Financial Services, Integrated Distribution Services, 1155 Long
Island Avenue, Edgewood, New York, 11717, phone: (631) 254-7106, fax: (631)
254-7628, e-mail: niokioh_wright@adp.com, or from CIBC World Markets via fax
at (212) 667-6136 or via e-mail at useprospectus@us.cibc.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that involve risks and
uncertainties. These forward-looking statements relate to, among other things,
plans and timing for the introduction or enhancement of our services and
products, statements about future market conditions, supply conditions, channel
and end customer demand conditions, revenues, gross margins, operating expenses,
profits, and other expectations, intentions, and plans contained in this press
release that are not historical fact. Our expectations regarding future revenues
and earnings depend in part upon our ability to successfully integrate AirPrime
into our business and our ability to develop, manufacture, and supply products
that we do not produce today and that meet defined specifications. When used in
this press release, the words "plan", "expect", "believe", and similar
expressions generally identify forward-looking statements. These statements
reflect our current expectations. They are subject to a number of risks and
uncertainties, including, but not limited to, changes in technology and changes
in the wireless data communications market. In light of the many risks and
uncertainties surrounding the wireless data communications market, you should
understand that we cannot assure you that the forward-looking statements
contained in this press release will be realized.
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ABOUT SIERRA WIRELESS
Sierra Wireless is a leader in delivering highly differentiated wireless
solutions that enable our customers to improve their productivity and lifestyle.
Sierra Wireless develops and markets AirCard, the industry-leading wireless PC
card line for portable computers; embedded modules for OEM wireless
applications; the MP line of rugged vehicle-mounted connectivity solutions and
Voq, a line of professional phones with easy-to-use, secure software solutions
for mobile professionals. For more information on Sierra Wireless, visit our web
site at http://www.sierrawireless.com/. For more information on Voq professional
phones, visit our web site at http://www.voq.com/.
"AirCard" and "Voq" are trademarks of Sierra Wireless, Inc.
FOR FURTHER INFORMATION PLEASE CONTACT:
Sierra Wireless, Inc.
Peter W. Roberts, CA, CPA
Chief Financial Officer
(604) 231-1192
Email: proberts@sierrawireless.com.
Website: http://www.sierrawireless.com/
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
Sierra Wireless, Inc.
By: /s/ Peter W. Roberts
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Peter W. Roberts,
Chief Financial Officer
Date: November 12, 2003
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