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OPKO Health’s 3% notes due 2033 to stay convertible through March 31
By Tali Rackner
Norfolk, Va., Jan. 5 – OPKO Health, Inc. said its 3% convertible senior notes due 2033 remain convertible though March 31, with the conversion option extended from the quarter ended Dec. 31.
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 the 30 consecutive trading days ended Dec. 31, according to a press release.
The conversion rate is 141.4827 shares of the company’s common stock for each $1,000 principal amount of notes.
The company’s shares closed at $9.82 (NYSE: OPK) on Tuesday.
OPKO is a health-care company based in Miami.
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