OPKO stock triggers conversion option for 3% notes through September

By Susanna Moon

Chicago, July 1 – OPKO Health, Inc. holders may continue to convert its $32.2 million of outstanding 3% convertible senior notes due 2033, now through Sept. 30.

The notes remain convertible 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 June 30, 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 $9.34 (Nasdaq: OPK) on Thursday.

As previously announced, the conversion right had been triggered for the quarters ended March 31, 2015, June 30, 2015, Sept. 30, 2015, Dec. 31, 2015 and March 31.

Wells Fargo Bank, NA (Barry Somrock at cmesconversions@wellsfargo.com) is the trustee.

OPKO is a health-care company based in Miami.

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