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LSB investor converts $2.5 million of 7% convertible debentures
By Laura Lutz
Des Moines, Sept. 20 - LSB Industries, Inc. announced that a holder of its 7% convertible senior subordinated debentures due 2011 converted $2.5 million principal amount of the debentures into common stock on Sept. 15.
The debentures converted to 353,125 shares. LSB also agreed to pay the investor $87,500 in prepaid interest.
The conversion rate was 141.25 shares for each $1,000 principal amount of converted debentures.
Oklahoma City-based LSB manufactures climate-control products.
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