Take-Two Interactive's 4.375% notes may be converted by June 30

By Toni Weeks

San Luis Obispo, Calif., May 14 - Take-Two Interactive Software Inc. holders may convert their 4.375% convertible notes through June 30, and the company plans to settle any conversions in common shares.

The notes are convertible because the company's shares topped 130% of the conversion price of $10.675 per share for at least 20 out of the 30 consecutive trading days ended March 31, according to an 8-K filing with the Securities and Exchange Commission.

Upon conversion, the company may choose to settle the notes in cash, common shares or a combination of cash and shares.

The company's stock (Nasdaq: TTWO) closed at $16.391 on May 13.

Take-two is a New York City-based interactive entertainment software company.

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