Seacor gives details of conversion rate increase for 2.5% notes

By Ashley Montgomery

Kansas City, Kan., Dec. 14 - Seacor Holdings Inc. said it raised to 9.2089 the conversion rate on its 2.5% convertible senior notes due 2027.

The company said the new rate is equal to a conversion price of $108.59 per share.

The conversion rate was previously 8.6879 shares of common stock per $1,000 principal amount of notes, which is equivalent to a price of $115.10 per share.

As previously reported, the adjustment is connected to the company's $5.00 per share special dividend payable to holders of common stock.

Seacor is an offshore oil, gas and marine equipment company based in Fort Lauderdale, Fla.

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