OSI Pharmaceuticals' 2% senior notes now convertible through June 30

By Marisa Wong

Milwaukee, April 1 - OSI Pharmaceuticals Inc. said that holders of its 2% convertible senior notes due 2025 may elect to convert their notes into common stock April 1 through June 30.

The notes became convertible because the company's common stock closed at or above $35.32 per share for 20 trading days within the 30-trading-day period ended March 31.

The notes are convertible at 33.9847 shares per $1,000 principal amount of each note, or an effective conversion price of $29.43 per share.

Based in Long Island, N.Y., OSI Pharmaceuticals develops and commercializes targeted medicines designed to extend life and improve the quality of life for patients with cancer, diabetes or obesity.

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