Pioneer-Standard buys back $18.3 million convertibles

New York, Aug. 8 - Pioneer-Standard Electronics, Inc. said it bought back $18.3 million face value of its 6.75% convertible trust preferred securities.

The Mayfield Heights, Ohio company paid $17.0 million in cash for the securities, according to a filing with the Securities and Exchange Commission.

As of June 30, Pioneer-Standard had $125.425 million of the convertibles outstanding.

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