Atari calls remaining Oceanes due 2020 for redemption

New York, Jan. 26 – Atari SA will redeem its remaining convertibles in the Oceane structure due Feb. 19, 2020, according to a news release.

The securities will be repaid on March 2.

Holders can exercise their conversion option until Feb. 21, the seventh business day before the redemption. Each Oceane is convertible into 1.014 shares.

Bonds not converted will be repaid at par of €0.35 plus accrued interest up to the redemption date, or a total of €0.4358. The redemption price will be paid in stock using a price of €0.4655 per share.

Atari said that as of Friday only 3,294,923, or 23%, of the original 14,213,435 Oceanes remain outstanding.

Atari is a Paris-based interactive entertainment company.

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