VeriSign calls all 3.25% convertibles due 2037 for May 1 redemption

By Wendy Van Sickle

Columbus, Ohio, Feb. 15 – VeriSign, Inc. called all of its outstanding 3.25% junior subordinated convertible debentures due 2037 for redemption, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed on May 1 at par plus accrued interest to, but excluding, the redemption date.

The notes may be converted any time before 5 p.m. ET on April 30.

Each $1,000 principal amount is convertible into 29 shares of common stock, plus cash in lieu of fractional shares.

The settlement method applicable to conversions will be the net share settlement. As a result, the specified dollar amount applicable to conversions will be $1,000. The observation period will begin on March 15, the 32nd trading day prior to the redemption, and is expected to end on April 26.

The internet infrastructure services provider is based in Reston, Va.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.