Dobson says nearly all series F convertible preferreds converted ahead of redemption

By Angela McDaniels

Seattle, Oct. 4 - Dobson Communications Corp. said holders of 758,060 shares, or 99.8%, of its series F preferred stock converted their shares after the company announced a planned redemption for the preferreds.

The conversion price is $8.75 per preferred, or 20 shares of the company's class A common stock for each preferred share. In total, Dobson will issue 15,470,565 common shares.

The planned redemption was announced on Aug. 20.

Holders of 1,836 preferreds did not convert, and those preferreds were redeemed on Thursday for $178.571 per share, representing 100% of the liquidation preference per share, plus $5.1488 of accumulated dividends per share.

The total cash payment for the redeemed preferreds was $337,309.55.

Oklahoma City-based Dobson Communications is a provider of wireless communications services to rural markets.

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