OSI Pharmaceuticals 2% notes are convertible through June 30

By Jennifer Chiou

New York, April 3 - OSI Pharmaceuticals, Inc. announced that holders of its 2% convertible senior notes due 2025 may convert their holdings through June 30.

The notes are convertible because the company's stock closed at or above $35.32 for the 20 trading days within the 30 trading days ended on March 31.

The conversion rate of the notes is 33.9847 shares per $1,000 principal amount, or $29.43 per share. The company's stock closed at $36.09 per share on Thursday.

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

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

© 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.