International Coal says 9% convertibles due 2012 no longer convertible

By Devika Patel

Knoxville, Tenn., Oct. 29 - International Coal Group, Inc. said that the conversion period for its $225 million in 9% convertible senior notes due 2012 expired on Sept. 30 without any notes having been converted.

The notes became convertible on July 1.

The conversion opportunity arose on June 16 when the closing price of the company's common stock exceeded $8.26, or 130% of the conversion price in effect since March 31, for the 20th trading day in the 30 consecutive trading days ending on June 30.

International Coal is a Scott Depot, W.Va. coal producer and distributor.

© 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.