Dress Barn's 2.5% notes remain convertible after trigger price met

By Devika Patel

Knoxville, Tenn., July 27 - Dress Barn, Inc. said its 2.5% convertible senior notes due 2024 are convertible from July 27 through Oct. 23. The notes also were convertible in the previous quarter.

The notes remain 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 that ended on Saturday, according to an 8-K filed Monday with the Securities and Exchange Commission.

None of the notes has been presented for conversion to date, the filing said.

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.