Owens & Minor says nearly all Tecons converted to stock

New York, Sept. 4 - Owens & Minor, Inc. said holders of 99.97% of its outstanding Term Convertible Securities (Tecons), series A issued by Owens & Minor Trust I were converted into stock ahead of the redemption.

The Richmond, Va. distributor of medical supplies redeemed the remaining securities at 103.0156% of the liquidation amount or $51.01 per $50 Tecon plus accrued interest.

Before the redemption there was $104.365 million of the convertibles outstanding.

The conversion rate for the securities was 2.4242 shares per Tecon, equivalent to a conversion price of $20.625. Owens & Minor stock closed at $24.19 Thursday.

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