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SR Telecom to convert $10 million 10% convertibles
New York, Nov. 28 - SR Telecom Inc. said that $10 million of its 10% secured convertible debentures due Oct. 15, 2011 will convert into 46.1 million common shares on Nov. 30.
The Montreal-based wireless data equipment company will also issue 1.2 million shares for accrued interest.
The conversion price is $0.217 per share.
Under the terms of the convertibles, the conversion is mandatory. Securities will be converted on a pro rata basis.
SR Telecom currently has $75.5 million of the convertibles outstanding.
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