Take-Two Interactive 4.375% notes convertible after 130% hurdle hit

By Jennifer Chiou

New York, Aug. 9 - Take-Two Interactive Software, Inc.'s 4.375% convertible senior notes due 2014 may be converted through Sept. 30 because the price of the company's common stock exceeded 130% of the conversion price of $10.675 per share for at least 20 days during the 30 consecutive trading days ended June 30, according to a 10-Q filing with the Securities and Exchange Commission.

If any notes are converted during this period, the company said that it will settle the conversions with shares.

The New York-based interactive entertainment software company's stock closed at $11.61 (Nasdaq: TTWO) on Tuesday.

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