OPKO Health’s 3% notes due 2033 to stay convertible through Sept. 30

By Susanna Moon

Chicago, July 1 – OPKO Health, Inc. said its 3% convertible senior notes due 2033 remain convertible though Sept. 30, with the conversion option extended from the quarter ended June 30.

The conversion right was extended because the company’s common stock closed above $9.19, or 130% of the initial conversion price of $7.07, for at least 20 out of 30 consecutive trading days ended June 30, according to a press release.

The conversion rate will be 141.4827 shares of the company’s common stock for each $1,000 principal amount of notes.

The company’s shares (NYSE: OPK) closed at $16.08 on Tuesday.

Wells Fargo Bank, NA is the trustee and conversion agent.

OPKO is a health care company based in Miami.

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