Dress Barn says investors may convert 2.5% notes

By Susanna Moon

Chicago, April 28 - Dress Barn, Inc. said its 2.5% convertible senior notes due 2024 are convertible from April 28 through July 25.

The notes are convertible because the company's stock price (Nasdaq: DBRN) closed above the trigger price of $12.61 per share for 20 of the past 30 trading days ended on April 25, according to an 8-K filing with the Securities and Exchange Commission.

None of the notes has been presented for conversion to date, the filing said. The notes' conversion price is $21.02 per share.

The Suffern, N.Y.-based retailer issued $115 million of the convertibles in December 2004.

© 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.