EnerSys 3.375% convertibles continue to be convertible through Dec. 31

By Angela McDaniels

Tacoma, Wash., Sept. 30 – EnerSys’ 3.375% convertible senior notes due 2038 will continue to be convertible from Oct. 1 through Dec. 31, according to a company news release.

These convertibles became convertible for the first time on Jan. 2, 2014 and will continue to be convertible because the closing share price of EnerSys’ common stock exceeded 130% of the conversion price for at least 20 out of the 30 consecutive trading days ended on Sept. 30.

The conversion rate as of Oct. 1 is 24.9692 shares per $1,000 principal amount of convertibles due to the cumulative impact of cash dividends paid on EnerSys’ common stock.

The company’s stock closed at $58.64 (NYSE: ENS) on Tuesday.

The company said it plans to settle the principal amount of any conversions made during the quarter ending Dec. 31 in cash and any additional conversion consideration in cash, shares or a combination of cash and shares.

EnerSys makes industrial batteries and is based in Reading, Pa.

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