Oglebay Norton calls all 14.8275% convertible preferreds

By Laura Lutz

Des Moines, Sept. 28 - Oglebay Norton Co. called for redemption all of its 14.8275% series A convertible preferred stock.

Holders may convert each preferred share into 1.278 shares of common stock until 5 p.m. ET on Oct. 23.

Preferred shares that are not converted by the conversion deadline will be redeemed on Oct. 30 for $14.02 per share.

Over the past several months, Oglebay Norton has called 5,823,066 shares of the preferred stock, the vast majority of which have converted to common stock.

The company said it will have 11,222,236 shares of common stock and 2,478,229 shares of convertible preferred stock outstanding on Oct. 2.

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