OSI's 2% notes due 2025 are convertible

By Julie A. Miller

Washington, July 3 - OSI Pharmaceuticals, Inc. announced that its 2% convertible senior notes due 2025 are convertible through Sept. 30.

The notes are convertible at a rate of 33.9847 shares per $1,000 principal amount, an conversion price of $29.43 per share. The company said $115 million in notes is outstanding.

The notes became convertible June 30 when OSI's common stock closed at or above $35.32 per share for 20 trading days within a 30-day period.

Melville, N.Y.-based OSI Pharmaceuticals focuses on developing products designed to extend life or improve the quality of life for patients with cancer, diabetes and obesity.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.