MSC.Software holders convert all 2.5% convertibles due 2008 ahead of redemption

By Jennifer Chiou

New York, June 19 - MSC.Software Corp. announced it issued 11,743,957 shares in exchange for its $67 million of 2.5% senior subordinated convertible notes due 2008.

Noteholders had until the close of business on June 15 to convert their securities at a conversion rate of 117.4398 shares per $1,000 principal amount of notes.

The company announced the redemption on May 18, saying it would redeem the notes at par plus accrued interest to June 16.

Santa Ana, Calif.-based MSC.Software provides enterprise simulation software and services.

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