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InterDigital increases conversion rate for 1.5% convertibles due 2020
By Marisa Wong
Morgantown, W.Va., June 21 – InterDigital, Inc. increased the conversion rate for its 1.5% senior convertible notes due 2020 to 13.8664 shares per $1,000 principal amount.
The adjustment is due to cash dividends previously announced and paid on Oct. 26, 2016, Jan. 25 and April 26, according to a press release.
The company’s stock (Nasdaq: IDCC) closed at $80.00 on Tuesday.
Wilmington, Del.-based InterDigital is a mobile technology company.
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