OSI Pharmaceuticals says holders may convert 2% convertibles through Dec. 29

By Laura Lutz

Chicago, Oct. 20 - OSI Pharmaceuticals, Inc. announced that its 2% convertible senior notes due 2025 are convertible through Dec. 29.

The notes became convertible because the company's stock closed at or above $35.32 for the 20 trading days within the 30 trading days ended on Sept. 29.

The conversion rate of the notes is 33.9847 shares per $1,000 principal amount, or $29.43 per share.

There is $115 million principal amount of the notes outstanding.

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

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