OSI holders may convert 2% notes through second quarter

By Susanna Moon

Chicago, April 4 - OSI Pharmaceuticals, Inc. said its 2% convertible senior notes due 2025 are now convertible through June 30.

The notes are convertible because the company's common stock (Nasdaq: OSIP) closed at or above $35.32 per share for 20 trading days in the 30 trading days ended March 31, according to a press release.

Holders may convert notes at a rate of 33.9847 shares per $1,000 principal amount or at a conversion price of $29.43 per share.

Currently, $115 million principal amount of the notes remains outstanding.

OSI is a pharmaceutical company based in Melville, N.Y.

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