Omnicare to redeem all $62.29 million 3.5% convertible notes due 2044

By Tali Rackner

Norfolk, Va., Sept. 3 – Omnicare, Inc. called all $62,287,000 of its 3.5% convertible senior subordinated notes due Feb. 15, 2044, according to a notice.

The notes will be redeemed on Sept. 28 at $1,004.18 per $1,000 principal amount.

The notes may be converted at a conversion rate of $14.3863 shares of common stock per $1,000 principal amount (at $98 in cash per share for a total conversion consideration of $1,409.86), provided that the conversion rate with respect to any conversions “in connection with” the non-stock change of control is 15.2307 shares of common stock per $1,000 principal amount (at $98 in cash per share for a total conversion consideration of $1,492.61).

U.S. Bank NA is the trustee.

The Cincinnati-based company is a provider of pharmaceutical services.

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