Safeguard Scientifics calls remaining $76,000 of 2.625% convertibles

By Tali Rackner

Norfolk, Va., April 29 - Safeguard Scientifics, Inc. plans to redeem the remaining $76,000 of its 2.625% convertible senior debentures due 2024, according to a press release.

The notes will be redeemed at par plus accrued interest on June 3.

Holders have the right to convert their notes into fully paid and non-assessable shares of common stock until 5 p.m. ET on June 2 at a conversion price of $43.304 per share, or a conversion rate equal to 23.0923 shares for each $1,000 principal amount.

The company's stock closed at $20.81 (NYSE: SFE) on April 28.

U.S. Bank NA is the trustee, paying agent and conversion agent.

Safeguard Scientifics is a technology incubator based in Wayne, Pa.

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