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

By Marisa Wong

Morgantown, W.Va., April 6 – OPKO Health, Inc. said its 3% convertible senior notes due 2033 remain convertible though June 30, with the conversion right extended from the quarter ended March 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 March 31, according to an 8-K filing with the Securities and Exchange Commission.

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 $10.28 (NYSE: OPK) on Tuesday.

OPKO is a health-care company based in Miami.

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