Nestor to redeem 20% of convertible notes due 2011

By Sheri Kasprzak

New York, Dec. 20 - Nestor, Inc. said holders of its 7% senior secured convertible notes due 2011 have given notice that they will exercise their right to require the company to redeem 20% of the outstanding principal of the notes.

Nestor must redeem the notes by Dec. 29.

The company must redeem $5.71 million of the currently $28.55 million outstanding principal of the notes.

The 7% notes, issued in May, are convertible into common shares at $3.60 each.

Nestor is a Providence, R.I.-based software company.

© 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.