Cyberonics buys back another $2.5 million 3% convertibles

By Angela McDaniels

Tacoma, Wash., Feb. 19 - Cyberonics, Inc. has repurchased $2.5 million of its 3% convertible notes due 2012 since its fiscal third quarter ended on Jan. 23.

The company noted the repurchase in its 10-Q report for the third quarter of fiscal 2009, which was filed with the Securities and Exchange Commission on Thursday.

About $64.84 million of the convertibles were outstanding as of Jan. 23. The latest repurchase reduces that amount to $62.34 million.

As reported on Wednesday, Cyberonics repurchased $19.8 million of the convertibles for $13.6 million during the fiscal third quarter.

Cyberonics is a Houston-based medical technology company with a focus on neuromodulation.

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