WebMD holders convert nearly all 1.75% convertibles before redemption

By Susanna Moon

Chicago, June 22 - WebMD Health Corp. said holders converted substantially all of its $188 million outstanding 1.75% convertible subordinated notes due June 15, 2023 ahead of redemption.

Holders converted their holdings into about 5.4 million shares of WebMD common stock.

The remaining $36,000 principal amount of notes was redeemed at par plus accrued interest to the redemption date of June 21.

The company said on May 20 that it planned to redeem the outstanding notes and that they may be converted by 5 p.m. ET on June 18 at a rate of 28.8759 shares per $1,000 note, or at a price of $34.63 per share. The company's shares (Nasdaq: WBMD) closed at $44.49 on May 20 and at $47.54 on June 21.

New York-based WebMD provides health information services through its online portals and publications.

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