Emulex calls $16.97 million 1.75% convertibles

By Caroline Salls

Pittsburgh, Jan. 27 - Emulex Corp said it will redeem all $16.97 million outstanding of its 1.75% convertible subordinated notes due Feb. 1, 2007 on Feb. 22 at a price of $1,004.375 per $1,000 principal amount plus interest accrued to the redemption date.

Holders may convert their notes into shares of Emulex common stock by 5 p.m. ET on Feb. 18 at a price of $53.84 per share, or 18.574 shares per $1,000 principal amount of notes.

Emulex stock closed at $16 on Wednesday.

Emulex is a Costa Mesa, Calif., next generation storage networking systems company.

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