Aether Systems calls all $154.9 million of 6% convertibles

Pittsburgh, Sept. 1 - Aether Systems Inc. will redeem all $154.9 million outstanding of its 6% convertible subordinated notes due March 2005 for cash at 101.2% of par plus interest accrued to the early October redemption date, according to a company news release.

The company estimates that the total redemption price for the notes will be about $157 million.

Aether expects a $2.4 million third quarter charge in connection with the redemption, including $1.8 million of cash redemption premium and a non-cash charge of $600,000 related to the write off of unamortized deferred financing costs, the release said.

The redemption will save the company about $1.5 million.

Aether Systems is an Owing Mills, Md., wireless data company.

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