Infocrossing 4% convertibles see conversion price cut

New York, Aug. 9 - Infocrossing, Inc. said the conversion price on its 4% convertible senior notes due 2024 was adjusted downwards to $12.69 from $15.36 as of the closing of trading on Aug. 5.

The change occurred because the company's stock closed below $10.48 for 20 out of 30 consecutive trading days.

In total, the $72 million of securities outstanding now convert into 5,673,759 shares, up 986,259 or 21% from 4,687,500 previously.

Infocrossing is a Leonia, N.J.-based provider of information technology and business outsourcing.

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