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
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 MATTHEWS
FOR: Sierra Wireless, Inc.
TSX: SW
Nasdaq: SWIR
November 14, 2003
SIERRA WIRELESS, INC. CLOSES US$74.8 MILLION PUBLIC OFFERING
Vancouver, British Columbia - Sierra Wireless, Inc. (NASDAQ: SWIR, TSX: SW)
today announced that it has successfully closed its previously announced
public offering of 4,600,000 common shares at a price of US$16.25 per share.
Under the offering, which included the shares issuable upon the exercise by
the underwriters of the over-allotment option, Sierra Wireless sold 4,442,222
common shares from treasury, and two retiring officers of Sierra Wireless
sold an aggregate of 157,778 common shares by way of a secondary offering.
Gross proceeds of this offering 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.
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.
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 14, 2003
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