Safeguard Scientifics buys back $41.1 million 5% convertibles

New York, May 14 - Safeguard Scientifics Inc. said it bought back $41.1 million principal amount of its 5% convertible subordinated notes due 2006.

The buyback brings the total repurchased to $145.2 million principal amount, leaving $54.8 million still outstanding.

The Wayne, Pa., information technology and life sciences incubator funded all the repurchases from proceeds of its recent offering of $150 million of 2.625% convertible senior debentures due 2024.

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