Stanley Black & Decker calls 4.75% series B perpetual convertibles

By Wendy Van Sickle

Columbus, Ohio, Nov. 18 – Stanley Black & Decker called all outstanding shares of its 4.75% series B perpetual cumulative convertible preferred stock for redemption on Dec. 24, according to a notice.

The preferred stock will be redeemed at $100.49 per share, which includes the liquidation preference of $100.00 per share and accrued dividends to the redemption date.

Holders may convert the preferred shares any time before 5 p.m. ET on Dec. 23. As of Nov. 18, the conversion rate was 1.3763 shares of common stock per share of convertible preferred stock.

Computershare Investor Services, LLC is the paying agent, conversion agent and registrar in the redemptions and conversions.

The New Britain, Conn.-based company provides hand tools, power tools and accessories, industrial tools and automotive tools and equipment, mechanical access solutions, electronic security solutions and technology-based (engineered) fastening systems.

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