Stericycle converts all series A 5.25% mandatory convertibles

By Wendy Van Sickle

Columbus, Ohio, Sept. 14 – Stericycle Inc. completed the mandatory conversion of all of its 5.25% series A mandatory convertible preferred stock into shares of the company’s common stock, according to a press release issued on Friday.

All of the preferreds automatically converted into shares of Stericycle common stock at a conversion rate of 7.3394 shares of common stock per one share of series A preferred stock or 0.73394 shares of common stock per one series A depositary share.

Following the conversion, the company no longer has shares of preferred stock issued and outstanding.

The company intends to delist the series A depositary shares from the Nasdaq Stock Market.

Lake Forest, Ill.-based Stericycle is a provider of medical waste collection, transportation, treatment and disposal services and safety and compliance programs.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.