Infocrossing's 4% senior notes due 2024 now convertible

By Devika Patel

Knoxville, Tenn., July 25 - Infocrossing, Inc. announced that holders of its 4% convertible senior notes due 2024 may convert their securities into shares.

The conversion opportunity arose after the market price of Infocrossing's common stock was more than 130% of the applicable conversion price, for at least 20 trading days of the 30 consecutive trading day period ended on June 30, the last day of the previous quarter.

As previously reported, the notes were priced in June 2004 with a conversion premium of 21%, a conversion price of $15.36 and a conversion ratio of 65.1042.

The trustee is Wells Fargo Bank, NA.

Based in Leonia, N.J., Infocrossing is a selective IT outsourcing solutions provider.

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